Australia's ASIC Streamlines Stablecoin & Wrapped Token Distribution with New Exemptions

On Tuesday, December 11, Australia's securities regulator, ASIC, announced a pivotal series of exemptions designed to significantly simplify the distribution of stablecoins and wrapped tokens for businesses. This move eliminates the need for intermediaries to hold separate, often costly, licenses and permits the use of pooled accounts, provided robust record-keeping is maintained. The regulatory update broadens previous relief, specifically removing the requirement for an Australian Financial Services (AFS) license for intermediaries dealing with these digital assets. This strategic decision by ASIC explicitly aims to foster innovation and stimulate growth within Australia's burgeoning digital asset and payments landscape, signaling a more accommodating regulatory environment for the sector.