ASIC’s Stablecoin Exemptions Seek to Speed Up Digital Asset Growth
ASIC confirmed it is granting class relief for intermediaries in the secondary distribution of certain stablecoins and wrapped tokens.
This means:
- No longer requires a separate AFS license to provide stablecoin-related services.
- Intermediaries now have the freedom to utilize omnibus accounts, provided record-keeping and compliance standards are maintained.
- Companies can function with reduced expenses, decreased obstacles, and improved transparency.
Why Omnibus Accounts Matter for Stablecoin Providers
According to ASIC, the industry already employs omnibus structures that aggregate funds from numerous clients. These accounts support:
- Faster settlement
- Lower transaction costs
- Tighter risk management
- Enhanced cybersecurity coordination
Updated guidance for stablecoins elaborates on existing regulatory principles—they are not new in nature.
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Stablecoin Companies State ASIC “Creates Equality in Competition”
Australia’s crypto and fintech sector have widely welcomed the new exemptions.
Drew Bradford, CEO at Australian stablecoin issuer Macropod, stated that the update would reduce friction for innovators.
ASIC’s move helps balance the playing field for stablecoin innovation in Australia, giving both new and existing players a clearer, flexible framework, particularly regarding reserve and asset management.
Bradford added that ASIC’s clearer approach is crucial for:
- Real-world commercial use cases
- Payments and treasury applications
- Cross-border money movement
- On-chain settlement systems
According to Bradford, Australia’s decision signals its ambition to be competitive globally while maintaining institutional and consumer protections.
“Things are improving in Australia. We believe the next year will bring greater clarity, growth, and innovation across the digital assets sector.”
The crypto industry views the stablecoin exemptions as a significant first step toward broader adoption.
Global Stablecoin Market Surges Past $300 Billion
ASIC’s timing coincides with a surge in the global stablecoin market. According to data from RWA.xyz:
- Total stablecoin market cap has surpassed $300 billion
- The sector has grown 48% since the start of the year
- Tether remains the dominant issuer with a 63% market share
As stablecoins gain popularity for payments, settlements, and global liquidity, Australia’s approach positions the country to broaden access to the expanding marketplace.
Australia Indicates the Dawn of a New Era in Stablecoins
Australia’s decision opens the door to innovation, with ASIC’s stablecoin ruling removing costly obstacles and providing long-awaited regulatory clarity. The proposal further strengthens Australia’s digital economy, aligning the country to become a global center for stablecoin and blockchain innovation.
