ASIC Simplifies Regulations for Stablecoins and Wrapped Tokens

Australia Changes Regulations to Support Stablecoin and Wrapped Token Markets

The Australian Securities and Investments Commission (ASIC) has announced the approval of new exemptions aimed at streamlining the distribution of stablecoins and wrapped tokens within the country. These measures are intended to foster innovation and facilitate growth in the digital asset and payment sectors, signaling a more progressive regulatory approach for crypto businesses operating on Australian soil.

Under the new framework, intermediaries involved in the secondary distribution of certain stablecoins and wrapped tokens will benefit from “class relief,” eliminating the need for separate and often costly licensing. This development allows companies to utilize omnibus accounts with proper record-keeping, enhancing operational efficiency. The reforms also extend prior stablecoin relief by removing the requirement for intermediaries to hold separate Australian Financial Services licenses when providing services related to stablecoins or wrapped tokens.

Enhancing Industry Efficiency and Confidence

ASIC explained that these omnibus structures are widely adopted within the industry, as they offer significant advantages in transaction speed and cost reduction. Additionally, they assist entities in managing risk and cybersecurity concerns. “ASIC’s announcement helps level the playing field for stablecoin innovation in Australia,” said Drew Bradford, CEO of Macropod, a local stablecoin issuer. “This clearer, more flexible framework around reserves and asset management reduces regulatory friction and provides sector participants with confidence to expand.”

Bradford emphasized that the previous licensing requirements were costly and created compliance challenges, especially amid ongoing efforts for broader digital asset reforms. He highlighted that such clarity is essential for scaling practical applications like payments, treasury management, cross-border transactions, and on-chain settlement. “It signals Australia’s intention to remain competitive globally while maintaining the regulatory safeguards expected by institutions and consumers,” he added.

Policy experts like Angela Ang from TRM Labs welcomed the development, stating, “Australia’s evolving regulatory landscape is a positive sign for growth and innovation in digital assets. We anticipate further clarification in the coming year, which will help solidify the country’s position as a digital asset hub.”

Global Stablecoin Market Continues Rapid Growth

Market data shows the total stablecoin market capitalization has surpassed $300 billion, reaching an all-time high and growing 48% since the start of the year, according to RWA.xyz. Tether remains the dominant issuer, commanding approximately 63% of the market share, with stablecoins gaining increasing mainstream traction.