The New Zealand Financial Markets Authority (FMA) has published a discussion paper to gather feedback on the implications of a growing market for tokenised products and how tokenisation could influence New Zealand financial services. Tokenisation is described as turning real or virtual assets into digital tokens that can be stored and traded on a blockchain, with overseas examples spanning bank deposits, bonds, managed funds, real estate and cryptocurrency. The paper seeks views on tokenisation’s current use and future potential in New Zealand, including emerging risks and opportunities, and asks whether existing regulatory settings are helping or hindering responsible innovation in digital asset markets. The FMA also invites feedback on what it could do to support innovation, improve regulatory certainty and enhance consumer protection, noting that engagement may inform adjustments to rules and licence conditions and, where needed, proposals for law reform.
New Zealand Financial Markets Authority 2025-09-03
New Zealand Financial Markets Authority releases discussion paper seeking feedback on tokenisation and regulatory settings
The New Zealand Financial Markets Authority has released a discussion paper seeking feedback on the impact of tokenisation on financial services, exploring its current use, potential, and regulatory implications in New Zealand. The paper invites views on whether existing regulations support innovation and consumer protection, with potential adjustments to rules and proposals for law reform under consideration.