Australia adopts licensing exemption for stablecoin intermediaries

• ASIC allows distribution of stablecoins without additional license
• Catena Digital and AUDMA listed as first participants
• Measure paves the way for national stablecoin legislation

The Australian Securities and Investments Commission (ASIC) has announced a measure that makes it easier for stablecoin intermediaries to operate in the country. The new class exemption allows already licensed entities to distribute stablecoins without the need for additional regulatory approvals. The regulatory relief will come into effect once registered in the Federal Register of Legislation.

Stablecoin intermediaries include cryptocurrency exchanges, brokerages, and trading platforms that offer these assets to users without issuing their own digital currencies. According to the ruling, companies licensed by the Australian Financial Services (AFS) will be able to offer fiat-pegged stablecoins without an additional market or clearing license.

According to ASIC , the measure reduces temporary licensing barriers while ensuring consumer protection. The exemption is part of the Stablecoin Distribution Exemption Instrument, which temporarily exempts secondary distributors from certain obligations, provided specific conditions are met, such as the requirement to provide retail customers with the Product Disclosure Statement. The rule expires on June 1, 2028.

In the initial version of the instrument, Catena Digital Pty Ltd and its stablecoin AUDMA were included as the first "Nominated Stablecoin." ASIC noted that it may expand the measure to other issuers as new stablecoins obtain AFS licenses.

The initiative is temporary and seeks to create a bridge until national legislation is approved. The government's draft policy, released in March 2025, proposed a two-track model covering both digital asset platforms (DAPs) and payment stablecoins. The plan indicates that full financial markets licensing will not be required for the offering of certain stablecoins and wrapped tokens.

Globally, stablecoin regulation is advancing rapidly. In the United States, under President Donald Trump, the GENIUS Act was passed, the first federal oversight framework for the sector. Hong Kong and China are also working on their own approaches, reinforcing the international movement toward defining specific rules for the stablecoin market.