Australia’s corporate watchdog on Thursday unveiled a class exemption letting licensed intermediaries distribute stablecoins issued by Australian financial services (AFS) licensees without separate approvals.
Class Relief Lets Crypto Brokers Distribute Stablecoins Under One License
The relief, published Sept. 18 by the Australian Securities and Investments Commission (ASIC), covers secondary distribution of stablecoins and removes the need for an additional AFS, Australian market, or clearing and settlement facility license when offering related services. It is pitched as pro-innovation with guardrails intact.
Intermediaries using the exemption must give clients the product disclosure statement for the exempt stablecoin when one exists. The instrument takes effect upon registration on the Federal Register of Legislation, creating an on-ramp once paperwork is live.
ASIC said it will consider extending the relief as more stablecoin issuers secure AFS licenses, signaling a pathway anchored to issuer compliance, not bespoke distributor approvals.
The move aligns with the regulator’s wider crypto guidance. In December 2024, ASIC consulted on updates to INFO 225 via Consultation Paper 381, clarifying how existing financial product definitions can apply to digital assets, including stablecoins, exchange tokens, meme coins, and wrapped assets. ASIC noted that final updates are expected in the coming weeks.
ASIC also explained the coordination with Treasury on a framework for payment stablecoins, consulted on in 2023, as Australia refines how fiat-linked tokens fit into payments. The relief follows prior permissions tied to Project Acacia in July.
For brokers and platforms, the takeaway is simple: if a stablecoin is issued under an AFS license, distribution just got easier-disclosure in hand and no extra license stack once the instrument is registered.
