New Zealand’s Financial Markets Authority (FMA) proposed a regulatory pathway for payment stablecoins referenced to and backed by the New Zealand dollar (NZD), opening it for public consultation on November 9, 2026, according to Jinse Finance.
Under the proposal, stablecoins meeting specified requirements and safeguards would no longer be treated as financial products under the Financial Markets Conduct Act. Those conditions include having NZD backing assets held by a registered bank and allowing redemption at face value.
FMA General Counsel Liam Mason said the initiative was intended to test a clearer regulatory pathway that supports innovation while maintaining market confidence.
The proposal is an interim measure, not a final decision. It will be advanced alongside broader work on digital-asset regulation. The source report did not disclose a consultation deadline.
Source: Jinse Finance, published November 9, 2026, at 16:55:44 (UTC+8).