Cook Islands is contemplating a controversial bill, the Tainted Cryptocurrency Recovery Bill 2023, enabling recovery agents to hack into accounts globally to track illegal cryptocurrency.

The proposed legislation, drafted by US-based firm Drumcliffe, has been criticized as 'state-endorsed cyberpiracy' and an infringement on privacy rights.

Experts are worried about the bill's effects on New Zealand's governance and its relationship with the Cook Islands, highlighting potential foreign influence and conflicts of interest.

Cook Islands Prime Minister Mark Brown supports the bill as a tool against cybercrime, but there are concerns it could damage the nation's financial sector.

The bill has prompted international debates and talks between New Zealand and Cook Islands authorities regarding its implications.