ASIC Streamlines Stablecoin and Wrapped Token Distribution with New Exemptions
Australia's securities regulator has finalized exemptions to ease the distribution of stablecoins and wrapped tokens. The MOVE eliminates separate licensing requirements for intermediaries, allowing omnibus account structures to reduce operational costs and improve efficiency.
ASIC's 'class relief' decision removes the need for Australian Financial Services (AFS) licenses in secondary distributions of these digital assets. Industry participants have long sought this clarity, which aligns with global trends toward regulatory pragmatism for crypto assets.
Drew Bradford, CEO of stablecoin issuer Macropod, noted the changes create a more level playing field. The update comes as demand grows for stablecoin use cases in cross-border payments and decentralized finance.
