The securities regulator of Australia has completed exemptions that will facilitate businesses in distributing stablecoins and wrapped tokens.
On Tuesday, the Australian Securities and Investments Commission (ASIC) announced new measures designed to promote innovation and growth in the digital asset and payment sectors.
It mentioned that it was “granting class relief” for intermediaries involved in the secondary distribution of specific stablecoins and wrapped tokens.
As a result, companies will no longer require separate, often costly, licenses to act as intermediaries in these markets and can utilize “omnibus accounts” with appropriate record-keeping.
These new exemptions expand on previous stablecoin relief by eliminating the need for intermediaries to possess separate Australian Financial Services (AFS) licenses when offering services related to stablecoins or wrapped tokens.
Creating a level playing field for stablecoin issuers
The regulator noted that these omnibus structures are extensively utilized in the industry, providing efficiencies in speed and transaction costs, while assisting some entities in managing risk and cybersecurity.
“ASIC’s announcement helps level the playing field for stablecoin innovation in Australia,” remarked Drew Bradford, CEO of the Australian stablecoin issuer Macropod.
“By offering both new and established players a clearer, more flexible framework, especially regarding reserve and asset management requirements, it alleviates friction and instills confidence in the sector to develop,” he added.
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The previous licensing requirements were expensive and created compliance challenges, particularly in an industry anticipating broader digital asset reforms.
“This type of measured clarity is crucial for scaling real-world use cases, payments, treasury management, cross-border transactions, and on-chain settlement,” Bradford further explained.
“It indicates that Australia aims to be competitive on a global scale while still upholding the regulatory frameworks that institutions and consumers expect.”
Angela Ang, head of policy and strategic partnerships at TRM Labs, also endorsed the development, stating, “Australia’s outlook is improving, and we anticipate further crystallization of digital assets regulation in the upcoming year — bringing more clarity to the sector and driving growth and innovation.”
Global stablecoin market experiences rapid growth
The total stablecoin market capitalization has reached a record high of over $300 billion, according to RWA.xyz.
It has risen by 48% since the start of this year, with Tether maintaining its dominance with a 63% market share.
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