Regulator: Financial Markets Authority (FMA); Reserve Bank of New Zealand (RBNZ); Department of Internal Affairs (DIA)
New Zealand has no dedicated stablecoin statute. Stablecoins are assessed case by case under the Financial Markets Conduct Act 2013. On 11 March 2026 the FMA Designation Notice 2026 (Gazette 2026-sl1211) declared ECDD's NZDD not a financial product on payment-tool grounds with 1:1 NZD bare-trust bank reserves; the notice is product-specific, not a class regime. The Government response to the Aug 2023 FEC crypto inquiry (Apr 2024) favoured monitoring over a bespoke Act. RBNZ Digital Cash remains in Stage 2 design and CBA through 2025-2026, with any launch around 2030 if approved. From 1 July 2026 DIA is the sole AML/CFT supervisor for VASPs and other reporting entities.
Applicable Laws:
The Financial Markets Conduct (FMC) Act 2013 (In Force) - https://www.legislation.govt.nz/act/public/2013/0069/latest/whole.html
Anti-Money Laundering and Countering Financing of Terrorism Act 2009 - https://www.legislation.govt.nz/act/public/2009/0035/latest/whole.html
Anti-Money Laundering and Countering Financing of Terrorism (Supervisor, Levy, and Other Matters) Amendment Act 2026 - https://www.fma.govt.nz/business/services/cryptocurrencies/
