On 9 November 2026, Odaily reported that New Zealand’s Financial Markets Authority (FMA) had proposed a regulatory pathway, and was seeking feedback, for payment stablecoins referenced to and backed by the New Zealand dollar (NZD).
Under the proposal, a stablecoin meeting specified requirements and safeguards would no longer be treated as a financial product under the Financial Markets Conduct Act. Those requirements include NZD supporting assets held by a registered bank and redemption at face value. The report does not say that any token is guaranteed, insured, or always redeemable, and it does not describe an audit or attestation of any issuer’s reserves.
FMA general counsel Liam Mason said the step is meant to test a clearer regulatory path, support innovation, and maintain market confidence. Odaily reported that the proposal is an interim measure, that no final decision had been made, and that it would be taken forward together with broader digital-asset regulatory work.
Original report: Odaily, published 9 November 2026 at 16:00:52 (UTC+8).
