Australia’s Securities and Investments Commission (ASIC) has finalized a new phase of relief for stablecoin and wrapped token intermediaries, extending licensing and custody exemptions. The measures allow intermediaries engaged in secondary distribution to operate without separate licenses, provided they hold appropriate Australian Financial Services (AFS), market, or clearing facility authorizations. The relief also permits providers to maintain digital assets in omnibus accounts, subject to sound record-keeping and reconciliation processes.
This decision builds on ASIC’s September guidance and aims to streamline operations while supporting innovation in Australia’s digital asset and payment sectors. Eligible stablecoins must maintain full reserves and unconditional redemption rights, while wrapped tokens require equivalent backing. Issuers are mandated to publish quarterly and annual audited reserve reports to ensure transparency and compliance with financial product regulations.
Industry observers welcomed the update as a pragmatic balance between regulatory oversight and operational efficiency. By clarifying custody and licensing frameworks, ASIC seeks to reduce friction for intermediaries, promote responsible stablecoin issuance, and foster the growth of Australia’s blockchain ecosystem.
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