New Zealand's FMA Initiates Public Consultation on Tokenization

According to PANews, the New Zealand Financial Markets Authority (FMA) has commenced a public consultation on tokenization, which will run until the end of October. The FMA noted that while it has received numerous inquiries related to tokenization this year, there have been few actual projects implemented. The authority is concerned that existing regulations may pose challenges for startups, prompting some companies to bypass local regulations and seek opportunities in overseas markets, potentially undermining consumer protection.