Cryptopolitan· Hannah Collymore·· 2 hours agoAI score53
New Zealand FMA launches consultation on draft classification of NZD payment stablecoins
New Zealand presents stablecoin template as FMA opens consultation on NZD draft rules
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New Zealand’s Financial Markets Authority (FMA) launched a consultation on November 9 on a draft classification for NZD payment stablecoins, proposing to exclude eligible payment coins from being considered financial products under the Financial Markets Conduct Act. Conditions include being backed by NZD held by a bank and redeemable at par; New Zealand currently has no dedicated licensing law for crypto assets or stablecoins.
Source:Cryptopolitan · cryptopolitan.com