The Australian Securities and Investments Commission (ASIC), the country’s securities regulator, has finalized exemptions that will simplify the distribution of stablecoins and wrapped tokens for businesses.
New Regulatory Relief
ASIC announced the new measures on Tuesday, stating they are aimed at fostering innovation and growth in the digital assets and payment sectors.
The regulator is “granting class relief” for intermediaries involved in the secondary distribution of certain stablecoins and wrapped tokens. This key change means:
- Companies no longer require separate, and often expensive, Australian Financial Services (AFS) licenses to act as intermediaries in these markets.
- Intermediaries are now permitted to use “omnibus accounts,” provided they maintain proper record-keeping.
Impact on the Industry
The regulator noted that the approved omnibus accounts are widely used in the industry because they offer efficiencies in speed and transaction costs, and help certain entities manage risk and cybersecurity.
Drew Bradford, CEO of Australian stablecoin issuer Macropod, stated that ASIC’s announcement “helps level the field for stablecoin innovation in Australia.”
- He added that by providing a clearer, more flexible framework—especially concerning reserve and asset-management requirements—ASIC removes friction and gives the sector confidence to build.
- Bradford emphasized that this measured clarity is essential for scaling real-world use cases, payments, treasury management, cross-border flows, and onchain settlement.
Angela Ang, head of policy and strategic partnerships at TRM Labs, also welcomed the development, stating that things are “looking up for Australia” and expressing anticipation for greater regulatory clarity and sector growth in the coming year.
Global Stablecoin Growth
Globally, the total stablecoin market capitalization is at a record high of just over $300 billion. This figure represents a 48% growth since the beginning of this year, with Tether remaining the dominant issuer, holding a 63% market share.
