Foresight News reported on 9 November 2026 at 15:58:06 (UTC+8), citing Scoop, that New Zealand’s Financial Markets Authority (FMA) was seeking feedback on a proposed regulatory path for payment stablecoins referenced to and backed by the New Zealand dollar.
Under the proposal, qualifying stablecoins would not be treated as financial products under the Financial Markets Conduct Act if they met specified requirements and safeguards. Those requirements include NZD backing held by a registered bank and redemption at face value.
FMA general counsel Liam Mason said the approach was intended to test a clearer regulatory path while supporting innovation and maintaining market confidence. It was proposed as an interim measure, not a final decision, and would proceed alongside broader digital-asset regulatory work.