Australia’s ASIC Eases Rules to Expand Stablecoin and Wrapped Token Distribution
Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has finalized a set of exemptions aimed at making it simpler for businesses to distribute stablecoins and wrapped tokens. The move is expected to cut costs, improve efficiency, and accelerate adoption of digital assets across the country.
Key Points:
Simplified Licensing: ASIC has removed the requirement for separate Australian Financial Services (AFS) licenses for intermediaries distributing stablecoins and wrapped tokens.
Omnibus Accounts Approved: Intermediaries can now use omnibus account structures, allowing for faster operations and lower costs while maintaining proper records.
Industry Optimistic: Experts say the clarity will help scale real-world use cases such as payments, cross-border transfers, treasury management, and on-chain settlement.
ASIC confirmed on Tuesday that it is granting “class relief” for intermediaries handling the secondary distribution of certain stablecoins and wrapped assets. Previously, separate licensing requirements created friction for companies trying to innovate in the sector.
Efficiency and Confidence Boosted
Omnibus accounts, widely used in the industry, provide operational speed, lower costs, and often improved risk and cybersecurity practices. Drew Bradford, CEO of Australian stablecoin issuer Macropod, said the changes give companies “confidence to build” as they expand their offerings. He added that streamlined reserve management and asset-handling rules remove major obstacles to experimentation and growth.
Angela Ang, head of policy at TRM Labs, welcomed the update, noting that Australia’s regulatory framework is becoming clearer and more predictable, a move likely to attract investment and foster innovation.
Global Stablecoin Market on the Rise
The policy shift comes amid surging global demand for stablecoins, with the total market now exceeding $300 billion, up 48% since the start of the year. Tether continues to dominate, controlling 63% of the market.
Australia Moves Forward With Crypto Licensing Reform
The exemptions align with broader crypto reforms in Australia. Last month, the government introduced the Corporations Amendment (Digital Assets Framework) Bill 2025, its first comprehensive regulatory framework for crypto exchanges and custody providers.
The bill, now under parliamentary debate, requires platforms holding customer crypto to obtain an Australian Financial Services License and operate under ASIC oversight. It creates two new license classes—“digital asset platform” and “tokenized custody platform”—and focuses on companies controlling customer funds rather than the underlying technology. Lawmakers say the reforms could unlock up to $24 billion in annual productivity gains while enhancing investor protections.
