ASIC Introduces Class Relief to Lower Compliance Burdens and Support Digital Asset Innovation
Australia’s corporate regulator has introduced new exemptions aimed at simplifying how businesses distribute stablecoins and wrapped tokens, marking a significant step toward a more innovation-friendly digital asset framework.
The Australian Securities and Investments Commission (ASIC) confirmed that it is granting class relief for intermediaries involved in the secondary distribution of eligible stablecoins and wrapped tokens. Under the updated measures, firms no longer need separate AFS licences to provide these services — a shift expected to reduce operational costs and encourage sector growth.
ASIC also approved the use of omnibus accounts provided that firms maintain appropriate records. These pooled structures are already widely used across global markets due to their efficiencies in speed, transaction processing and risk management.
Industry leaders say the changes bring long-awaited clarity. Drew Bradford, CEO of Australian stablecoin issuer Macropod, said the framework “levels the playing field for stablecoin innovation” providing more flexibility around reserve and asset-management obligations. He added that removing unnecessary friction gives the sector confidence to advance real-world applications such as payments, treasury operations and cross-border transactions.
The reforms arrive as Australia prepares for broader digital asset regulations, with previous licensing requirements considered expensive and restrictive. Policy experts note the new guidance signals the country’s intent to remain competitive internationally while preserving essential safeguards for institutions and consumers.
The move comes amid rapid global growth in the stablecoin market. Total capitalization has reached over $300 billion, rising 48% this year, with Tether maintaining a 63% market share.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.