"Cryptoassets are treated as a form of property for tax purposes. While there are different types of cryptoassets, the tax treatment depends on the characteristics and use of the cryptoassets. It does not depend on what they are called.
In most cases, the amounts you get from selling, trading or exchanging cryptoassets are taxable (this includes when you exchange one type of cryptoasset for another).
You may have to pay tax because you’re:
1. Acquiring cryptoassets for the purpose of disposal (for example to sell or exchange)
2. Trading in cryptoassets.
3. Using cryptoassets for a profit-making scheme."
Source: https://www.ird.govt.nz/cryptoassets
