The Australian Securities and Investments Commission relaxes regulatory requirements for stablecoin intermediaries

ChainCatcher news, the Australian Securities and Investments Commission (ASIC) has announced a regulatory exemption for stablecoin intermediaries, allowing them to distribute stablecoins issued by holders of an Australian Financial Services (AFS) license without needing to separately hold an AFS, market, or clearing house license.

This is Australia's first collective exemption of this kind, aimed at promoting growth and innovation in the digital assets and payments sector, and the exemption will take effect after registration in federal legislation. Steve Vallas, CEO of Blockchain Australia, stated that this move is a pragmatic transitional measure ahead of broader stablecoin reforms, helping to alleviate regulatory friction while the Treasury finalizes the proposed stablecoin regime. As more stablecoins obtain AFS licenses, this exemption may extend to more issuers.