[New Zealand's FMA Seeks Response to Regulatory Path for NZD-Backed Payment Stablecoins] BlockBeats reports that on November 9th, the New Zealand Financial Markets Authority (FMA) released a proposed regulatory path for NZD-backed payment stablecoins and is seeking feedback. Qualified stablecoins that meet certain requirements and safeguards will no longer be considered financial products under the Financial Markets Conduct Act. Requirements include NZD backing by a registered bank and the ability to redeem at face value. FMA General Counsel Liam Mason stated that this move aims to test a clearer regulatory path, support innovation, and maintain market confidence. The proposal is a provisional measure, and no final decision has been made; it will be developed in conjunction with broader digital asset regulatory efforts.