ASIC EASES RULES TO ENCOURAGE GROWTH IN STABLECOIN AND WRAPPED TOKEN MARKETS

Australia’s securities regulator has finalized a set of exemptions aimed at simplifying the distribution of stablecoins and wrapped tokens.

The Australian Securities and Investments Commission (ASIC) announced on Tuesday that it is providing “class relief” for intermediaries involved in the secondary distribution of certain stablecoins and wrapped assets.

Under the new rules, businesses will no longer need separate Australian Financial Services (AFS) licenses to handle these products, easing a long-standing compliance burden and making it simpler for market participants to operate in the crypto space.

ASIC Supports Omnibus Accounts to Reduce Costs and Boost Efficiency

Australia’s securities regulator has introduced new measures allowing intermediaries to use omnibus account structures, provided proper records are maintained. These structures, widely adopted across the industry, offer faster processing, lower operating costs, and often improved risk management and cybersecurity practices, according to the Australian Securities and Investments Commission (ASIC).

For issuers, the changes level the playing field. Drew Bradford, CEO of Australian stablecoin issuer Macropod, said the clarity gives companies “confidence to build” while expanding product lines. The streamlined approach, particularly around reserve management and asset-handling requirements, removes major obstacles that previously slowed experimentation and growth.

Industry experts have long argued that older licensing rules were expensive and poorly aligned with the needs of a rapidly evolving digital asset sector. Bradford emphasized that the new clarity is critical for scaling real-world use cases such as payments, cross-border transfers, treasury functions, and on-chain settlement.

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“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 at TRM Labs, added that the move is likely to solidify Australia’s regulatory framework further, encouraging more investment and innovation.

The policy update comes as global stablecoin demand surges. Total stablecoin market capitalization has exceeded $300 billion, up 48% since the start of the year, with Tether maintaining a 63% market share.

Australia Advances Comprehensive Crypto Licensing Framework

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, requires platforms holding customer crypto to obtain an Australian Financial Services License and operate under ASIC oversight.

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The bill, which passed its first reading and moved directly to a second, creates two new license classes: “digital asset platform” and “tokenized custody platform.” It focuses regulation on companies controlling customer funds rather than the underlying technology. Lawmakers estimate that the reforms could unlock up to $24 billion in annual productivity gains while improving investor safeguards.

FAQs

What exemptions has ASIC introduced for stablecoins and wrapped tokens?

ASIC has finalized class relief allowing intermediaries to distribute certain stablecoins and wrapped tokens without requiring separate AFS licenses.

What are omnibus accounts, and why are they supported?

Omnibus accounts allow multiple clients to be managed under one account while maintaining proper records, offering lower costs, faster processing, and improved risk management.

How does the new regulation benefit issuers?

It levels the playing field, reduces compliance burdens, and enables issuers to scale real-world use cases like payments, cross-border transfers, and on-chain settlement.

What is the current global stablecoin market size?

The total stablecoin market capitalization has surpassed $300 billion, with Tether holding a 63% market share.

What is the significance of Australia’s Digital Assets Framework Bill 2025?

It introduces a regulatory framework for crypto exchanges and custody providers, creating new license classes and improving investor safeguards, potentially unlocking $24 billion in annual productivity gains.