Australian ASIC Expands Regulatory Exemptions for Stablecoin Intermediaries

ChainCatcher News: According to market sources, the Australian Securities and Investments Commission (ASIC) has announced a new classification exemption policy, expanding the licensing exemption scope for intermediaries dealing with stablecoins and wrapped tokens.

This policy allows intermediaries to distribute stablecoins and wrapped tokens issued by issuers holding an Australian Financial Services (AFS) license without the need to apply for a separate license. At the same time, ASIC also allows providers to hold digital assets in omnibus accounts under proper record-keeping and reconciliation procedures. The new regulations require stablecoin issuers to maintain reserves equal to or greater than the total amount of tokens in circulation and to publish financial reports regularly.