New Zealand’s Financial Markets Authority (FMA) is seeking feedback on a proposed regulatory approach for payment stablecoins denominated in and backed by New Zealand dollars, according to an Odaily report published on November 9, 2026, at 17:25 (UTC+8). The consultation closes on December 18.
Under the proposal, these stablecoins would no longer be treated as financial products under the Financial Markets Conduct Act (FMC Act), provided they meet specified requirements and safeguards. They would need to be fully backed by New Zealand dollars held at New Zealand-registered banks and redeemable at face value.
The FMA said no decision had been made. It described the proposal as an interim measure while broader work on digital-asset regulation progresses.
Source: Odaily original report.