New Zealand’s Financial Markets Authority (FMA) is seeking feedback on a proposed regulatory path for payment stablecoins referenced to and backed by the New Zealand dollar. As BlockBeats reported on November 9, 2026, at 15:59 UTC+8, the proposal is an interim measure, not a final decision.
Under the proposal, eligible stablecoins would not be treated as financial products under the Financial Markets Conduct Act if they meet specified requirements and safeguards. Those include NZD backing held by a registered bank and redemption at face value. The report does not say that any stablecoin has qualified under this approach.
FMA general counsel Liam Mason said the aim is to test a clearer regulatory path while supporting innovation and maintaining market confidence. The proposal will proceed alongside broader work on digital-asset regulation.