A new report funded by the Law Foundation is urging the Government and Reserve Bank to embrace cryptocurrency to experience the “vast potential benefits”.

Based on research by a team of legal and banking experts, the report warns the Government against attempting to ban the use of cryptocurrenies and argues it should actively support New Zealand as a blockchain and financial technology hub.

Associate Professor of Commercial Law at the University of Auckland Business School Alex Sims joins Kerre McIvor to explain the benefits of cryptocurrencies and why they should be used.

LISTEN ABOVE AS ALEX SIMS SPEAKS TO KERRE MCIVOR