ASIC Eases Licensing Rules for Stablecoin Intermediaries in Australia

Australia's financial regulator has granted temporary relief to intermediaries distributing licensed stablecoins, exempting them from holding full financial services licenses. The MOVE by the Australian Securities and Investments Commission (ASIC) creates a transitional framework until 2028, when comprehensive stablecoin regulations are expected.

The exemption specifically applies to Catena Digital Pty's AUDM stablecoin initially, with potential expansion as more issuers obtain licenses. ASIC emphasized the measure only covers stablecoins classified as financial products under existing legislation, maintaining oversight while reducing barriers to distribution.

This regulatory adjustment comes as global financial hubs increasingly grapple with cryptocurrency integration. The London-based Financial Magnates Summit recently highlighted growing convergence between digital assets and traditional finance infrastructure.