New Zealand’s Financial Markets Authority (FMA) sought feedback on a proposed regulatory pathway for payment stablecoins referenced to and backed by the New Zealand dollar (NZD), according to an Odaily report published on November 9, 2026, at 16:00:52 UTC+8.
Under the proposal, stablecoins meeting specified requirements and safeguards would no longer be treated as financial products under the Financial Markets Conduct Act. Those requirements would include having a registered bank hold the NZD backing assets and allowing redemption at face value.
FMA General Counsel Liam Mason said the initiative was intended to test a clearer regulatory pathway that would support innovation while maintaining market confidence.
The proposal was presented as an interim measure, not a final decision, and would be progressed alongside broader work on digital-asset regulation.
Source: Odaily original report.