Australia’s securities regulator has finalized a set of exemptions designed to make it easier for businesses to distribute stablecoins and wrapped tokens.
Key Takeaways:
- ASIC has removed separate licensing requirements for intermediaries distributing stablecoins and wrapped tokens.
- The exemptions allow the use of omnibus accounts, reducing costs and improving operational efficiency.
- Industry leaders say the clarity will accelerate real-world stablecoin use cases as global demand continues to grow.
The Australian Securities and Investments Commission (ASIC) said Tuesday that it is granting “class relief” for intermediaries involved in the secondary distribution of certain stablecoins and wrapped assets.
The update removes the need for separate Australian Financial Services (AFS) licenses when handling these products, easing a compliance burden that has long frustrated market participants.
ASIC Backs Omnibus Accounts to Cut Costs and Boost Efficiency
Under the new measures, intermediaries will be able to use omnibus account structures as long as they maintain proper records.
ASIC noted that these structures are widely adopted across the industry, offering speed advantages, lower operating costs and, in many cases, improved risk and cybersecurity practices.
For issuers, the change represents a more level playing field. Drew Bradford, CEO of Australian stablecoin issuer Macropod, said the clarity gives companies “confidence to build” as they expand their product lines.
He added that the streamlined approach, particularly around reserve management and asset-handling requirements, removes major friction points that previously slowed experimentation and growth.
Industry figures have long argued that older licensing rules were expensive and mismatched for a sector waiting on broader digital asset reforms.
Bradford said the new clarity is critical for scaling real-world use cases such as payments, cross-border transfers, treasury functions and onchain settlement.
“It signals that Australia intends to be competitive globally, while still maintaining the regulatory guardrails that institutions and consumers expect,” he said.
Angela Ang, head of policy and strategic partnerships at TRM Labs, also praised the move, saying she expects Australia’s regulatory landscape to solidify further in the coming year, a shift she believes will spur additional investment and innovation.
The policy shift comes as global stablecoin demand reaches new highs. Total stablecoin market capitalization has surpassed $300 billion, according to RWA.xyz, rising 48% since the start of the year.
Tether continues to dominate with a 63% share of the market.
Australia Moves Forward With Sweeping Crypto Licensing Bill
Last month, Australia introduced its first comprehensive regulatory framework for crypto exchanges and custody providers, aiming to tighten asset-protection standards and reduce risks for local users.
The Corporations Amendment (Digital Assets Framework) Bill 2025, unveiled by Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino, would require platforms holding customer crypto to obtain an Australian Financial Services License and operate under ASIC oversight.
Lawmakers say the reforms could unlock up to $24 billion in annual productivity gains while improving investor safeguards.
The bill passed its first reading and advanced directly to a second, opening parliamentary debate. It creates two new license classes, “digital asset platform” and “tokenized custody platform,” and focuses regulation on companies that control customer funds, rather than the technology they use.
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