Australia's ASIC expands the scope of regulatory exemptions for stablecoin intermediaries

According to market news, the Australian Securities and Investments Commission (ASIC) has announced a new classification exemption policy that expands the scope of licensing exemptions for intermediaries of stablecoins and wrapped tokens.

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