Quick Breakdown
- ASIC allows intermediaries to distribute licensed stablecoins without holding separate financial licenses.
- Catena Digital’s AUDM stablecoin is the first to qualify under the exemption.
- ASIC is preparing updated crypto guidance and collaborating with Treasury on a stablecoin framework.
Australia’s financial regulator has taken a decisive step toward shaping the country’s crypto landscape, allowing intermediaries to distribute licensed stablecoins without needing a separate financial services license.
A first-of-its-kind exemption
The Australian Securities and Investments Commission (ASIC) confirmed the move, calling it an “important step in facilitating growth and innovation in the digital assets and payments sectors.” The relief applies exclusively to stablecoins issued under an Australian Financial Services (AFS) license.
For crypto exchanges and related intermediaries, this exemption lowers compliance barriers by cutting out the need for duplicate licensing. They can now offer access to regulated stablecoins while focusing on consumer protection standards set by ASIC.
AUDM becomes the first beneficiary
So far, only one issuer qualifies under the framework—Catena Digital. Its Australian dollar-backed stablecoin, AUDM, is the first to fall under the new regime. Intermediaries listing AUDM must still provide clients with the token’s product disclosure statement, ensuring transparency and informed decision-making.
ASIC confirmed it intends to extend the same relief to more stablecoin issuers as they obtain AFS licenses. The measure will take legal effect once it is formally registered on the Federal Register of Legislation.
Path toward clearer crypto rules
The exemption is ASIC’s response to industry concerns raised during last year’s consultation on digital asset regulation, outlined in Consultation Paper 381. The regulator acknowledged that many digital assets already fall under existing financial product laws, but said stakeholders had pushed for greater clarity.
ASIC is finalizing updates to its digital assets guidance, INFO 225, which will spell out how rules apply to stablecoins, exchange-native tokens, wrapped assets, and even meme coins. The revised guidance and public feedback are set to be released in the coming weeks.
At the same time, ASIC says it is working closely with the Treasury to design a dedicated stablecoin framework, signalling a stronger regulatory push for the sector.
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