Intermediaries working with sure stablecoins in Australia can function with out holding their very own licenses, beneath a brand new exemption introduced by the Australian Securities and Investments Fee (ASIC).
The short-term aid, outlined in a authorized doc referred to as the ASIC Firms (Stablecoin Distribution Exemption) Instrument 2025/631, permits companies that help in distributing stablecoins to bypass some licensing necessities.
This implies these intermediaries don’t want to carry an Australian Monetary Providers (AFS) licence or licenses associated to market or settlement amenities, so long as the stablecoin is issued by a agency that already holds an AFS licence.
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ASIC acknowledged in a press launch on September 18 that the choice is supposed to encourage accountable innovation in digital belongings, whereas making certain that protections for shoppers stay in place. The exemption solely applies to stablecoins that fall beneath the definition of a monetary product beneath Australia’s present legal guidelines and which can be issued by licensed entities.
At the moment, the exemption applies solely to AUDM, which is issued by Catena Digital Pty Ltd, a agency with an AFS licence.
The exemption covers a variety of actions, together with offering normal recommendation in regards to the token, performing as a market maker, buying and selling the token (excluding issuance), and providing custody companies.
This alteration is meant as a short-term measure whereas the federal government continues to develop a devoted licensing framework for payment-related stablecoins. The exemption will stay in impact till June 1, 2028.
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