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ASIC Eases Licensing Rules for Stablecoin Distributors in Australia
ASIC Eases Licensing Rules for Stablecoin Distributors in Australia
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BTCCSquare news:
Australia's Securities and Investments Commission (ASIC) has introduced a class exemption for intermediaries distributing fiat-pegged stablecoins, marking a significant regulatory shift. crypto exchanges and brokers overseen by Australian Financial Services (AFS) can now operate without additional licensing requirements, streamlining the distribution process.
The exemption mandates that retail clients receive a Product Disclosure Statement, ensuring transparency. This interim measure precedes broader legislation, reflecting ASIC's proactive approach to fostering innovation while maintaining oversight. The relief takes effect upon registration on the Federal Register of Legislation.
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