What are ASIC's new exemptions for stablecoins?

ASIC has provided class relief allowing intermediaries to handle certain stablecoins and wrapped tokens without additional licenses temporarily.

How long will the crypto license relief last in Australia?

The temporary relief for digital asset businesses is expected to remain in place until June 30, 2026.

Can crypto firms use omnibus accounts under ASIC's new rules?

Yes, ASIC's relief permits custody providers to use omnibus accounts for tokenized financial products if records are maintained.

Home / Business and Economy / Australia Eases Crypto Rules: Stablecoins Get Relief

Australia Eases Crypto Rules: Stablecoins Get Relief

11 Dec

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Summary

ASIC grants class relief for stablecoin intermediaries.
Exemptions support innovation until June 30, 2026.
Custody relief allows omnibus accounts for tokenized products.

Australia Eases Crypto Rules: Stablecoins Get Relief

Australia's securities regulator has finalized class relief for intermediaries involved in the secondary distribution of certain stablecoins and wrapped tokens. This move aims to support innovation within the digital asset sector as the government develops a permanent regulatory regime. The exemptions allow exchanges and other service providers to operate without needing separate financial services licenses for eligible products.

The regulatory relief also extends to custody services, permitting providers to hold tokenized financial products in omnibus accounts. This structure, common in traditional markets, was previously restricted for crypto. Adherence to proper record-keeping and reconciliation procedures is mandated for this exemption.

These temporary measures are in effect until June 30, 2026, giving companies time to adjust their operations or apply for licenses. The government anticipates replacing this transitional relief with comprehensive legislation governing tokenized payments and custody by mid-2028, marking a significant step in Australia's crypto framework.