In an item published at 16:55 (UTC+8) on 9 November 2026, Jinse Finance reported that, on 9 November, New Zealand’s Financial Markets Authority (FMA) proposed a regulatory path for payment stablecoins referenced to and backed by the New Zealand dollar (NZD) and opened that proposal to public comment.
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 stated requirements include NZD backing assets held by a registered bank and redemption at par.
FMA General Counsel Liam Mason said the step is intended to test a clearer regulatory path, so as to support innovation and maintain market confidence.
The proposal is an interim measure. No final decision has been made, and it is to be taken forward together with broader digital-asset regulatory work. The Jinse report did not disclose a deadline for comments.
Original report: Jinse Finance, published 9 November 2026, 16:55 (UTC+8).
