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FMA consults on clearer regulatory pathway for NZD referenced and backed payment stablecoins
Read the item · published 2026-11-09
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- 2026-11-13 11:59 UTC
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b6598773443920f83ccf03cf1cac6c7c99136a883ca5ff677b5601fe0a2ded3e· fetched 2026-11-10 · Wayback Machine copy ↗ - Source type
- Primary Financial Markets Authority, New Zealand (media release via Scoop) ↗
… The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko is asking for feedback on a proposed regulatory approach for certain New Zealand dollar referenced and backed stablecoins that are designed to be used for payments rather than investment. Under the proposal, qualifying stablecoins would no longer be treated as financial products under the Financial Markets Conduct Act, provided they meet specific requirements and safeguards. FMA General Counsel Liam Mason says the FMA wants to test whether the proposal would provide a clearer and more appropriate regulatory pathway for these products, while supporting innovation and maintaining confidence in New Zealand's financial mark …
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- 2026-11-10 Published
Verified quotes
“Under the proposal, qualifying stablecoins would no longer be treated as financial products under the Financial Markets Conduct Act, provided they meet specific requirements and safeguards.”
“These include being referenced and backed by New Zealand dollars held at a registered bank and being redeemable at face value.”
“The proposal is intended as an interim step while broader work on the future regulation of digital assets continues.”
String-matched against https://www.scoop.co.nz/stories/BU2611/S00081/fma-consults-on-clearer-regulatory-pathway-for-nzd-referenced-and-backed-payment-stablecoins.htm by our verifier before every deploy.
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