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Australia’s Securities and Investment Commission (ASIC) has issued a landmark class exemption allowing licensed intermediaries such as exchanges and brokers to distribute stablecoins without seeking separate regulatory approvals. The move marks the country’s first direct step toward formalizing crypto rules while easing entry barriers for firms overseen by Australian Financial Services.
The relief, delivered through ASIC’s Stablecoin Distribution Exemption Instrument, applies until June 1, 2028, and requires intermediaries to provide retail clients with the issuer’s Product Disclosure Statement. Catena Digital Pty Ltd and its AUDMA stablecoin have been named as the first participants, with ASIC signaling potential expansion to additional issuers as more stablecoins secure AFS licences. By reducing licensing frictions, the exemption creates a clearer path for stablecoin distribution ahead of upcoming national legislation.
Australia’s government plans to introduce a dual-track regime in 2025 covering digital asset platforms and payment stablecoins. This development places Australia alongside global efforts, with the U.S., Hong Kong, and China also advancing their own stablecoin regulations.
