Australia Eases Regulatory Framework for Stablecoins and Wrapped Tokens

Australia's financial regulator has taken a significant step toward streamlining digital asset operations. The Australian Securities and Investments Commission (ASIC) unveiled new measures Friday that reduce licensing burdens for businesses dealing with stablecoins and wrapped tokens. Effective December 9, intermediaries no longer require separate Australian Financial Services licenses for these assets.

The changes introduce operational flexibility through omnibus accounts—already common industry practice—allowing multiple client assets to be pooled while maintaining proper records. This move is expected to lower transaction costs and improve efficiency across Australia's crypto ecosystem.

ASIC's October guidance formally classified stablecoins, wrapped tokens, and NFTs as financial products, providing clearer regulatory boundaries. The latest adjustments signal Australia's commitment to fostering innovation while maintaining oversight in the rapidly evolving digital asset space.