The Australian Securities and Investments Commission (ASIC) has introduced a significant regulatory exemption for intermediaries involved in distributing licensed stablecoins. This move, which commenced with the AUDM stablecoin, aims to foster innovation while maintaining robust oversight within the digital asset ecosystem. Under the new framework, entities facilitating the distribution of Australian Financial Services (AFS)-licensed stablecoins are no longer required to obtain their own AFS license, provided they adhere to specific conditions set by the regulator.
This decision reflects ASIC’s adaptive approach to regulating emerging financial technologies, acknowledging the unique role of distributors in the stablecoin supply chain. By reducing regulatory duplication, the authority seeks to enhance market efficiency and encourage broader adoption of compliant digital assets. The exemption is expected to lower entry barriers for intermediaries, promoting competitive services and consumer access to regulated stablecoins.
ASIC emphasized that the exemption applies only to intermediaries distributing stablecoins already licensed under the AFS regime, ensuring that underlying issuers remain fully regulated. The regulator will monitor compliance closely, reserving the right to enforce penalties for violations. This calibrated policy demonstrates Australia’s commitment to balancing innovation with investor protection in the rapidly evolving cryptocurrency landscape.
