New Zealand’s Financial Markets Authority opened a consultation on November 9, 2026, on a proposal to exempt certain New Zealand dollar-backed stablecoins from rules applicable to financial products. To qualify for the exemption, tokens must be fully backed by New Zealand dollars held at registered banks and redeemable by holders at face value on a 1:1 basis. Stablecoin issuers, financial institutions, digital asset businesses and consumers are invited to provide feedback on the proposal. The initiative would turn the designation granted to NZDD stablecoins in March 2026 into an exemption pathway available to other qualifying issuers, pending comprehensive digital asset regulation.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
