Reported November 9, 2026. Foresight News, citing Scoop, reported that New Zealand’s Financial Markets Authority (FMA) had proposed a regulatory path for payment stablecoins referenced to and backed by the New Zealand dollar (NZD) and was seeking feedback.
Under the proposal, stablecoins that meet specified requirements and safeguards would no longer be treated as financial products under the Financial Markets Conduct Act. The requirements described include backing by NZD held at registered banks and redemption at par value.
FMA General Counsel Liam Mason said the step was intended to test a clearer regulatory path, support innovation, and maintain market confidence. The proposal is an interim measure. No final decision had been made, and it was to be taken forward together with broader digital-asset regulatory work.
Original article: Foresight News (November 9, 2026).
