Australian ASIC expands regulatory exemption for stablecoin intermediaries

The Australian Securities and Investments Commission (ASIC) has announced a new classified exemption policy that expands the scope of the license exemption for stablecoin and packaged token intermediaries. The policy allows intermediaries to distribute stablecoin and packaged tokens issued by issuers holding Australian Financial Services (AFS) licenses without having to apply for a separate license. At the same time, ASIC also allows providers to hold digital assets using consolidated accounts under proper recording 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 issue regular financial reports.