New Zealand’s Financial Markets Authority (FMA) has proposed a regulatory pathway for payment stablecoins referenced to and backed by the New Zealand dollar (NZD), according to Scoop, as reported by Foresight News on November 9, 2026, at 15:58:06 UTC+8.
Under the proposal, qualifying stablecoins that meet specified requirements and safeguards would no longer be treated as financial products under the Financial Markets Conduct Act. Those requirements include NZD backing held by a registered bank and redemption at face value.
FMA General Counsel Liam Mason said the aim was to test a clearer regulatory pathway that supports innovation while maintaining market confidence.
The proposal is an interim measure open for feedback, not a final decision. It will be considered alongside broader work on digital-asset regulation.