ASIC Eases Crypto Regulations: New Exemptions for Stablecoins and Wrapped Tokens

Australia's financial regulator has taken a decisive step toward fostering innovation in digital assets. The Australian Securities and Investments Commission (ASIC) unveiled streamlined rules for stablecoin and wrapped token intermediaries, effectively lowering barriers to operation in the country's burgeoning crypto sector.

Key provisions exempt qualifying firms from obtaining separate financial services licenses when handling secondary distributions of stablecoins. The MOVE follows September's preliminary relief measures, creating a more cohesive framework for digital asset businesses. Stablecoin issuers now face enhanced transparency requirements, including quarterly reserve reports and audits.

For wrapped tokens, ASIC introduced pragmatic custody solutions through omnibus account structures. The regulator set a generous compliance deadline of June 2026, allowing industry participants adequate time to adapt to the updated regime.