The Australian Securities & Investments Commission has finalised new class relief measures for Australia’s digital asset and payment sectors, exempting certain intermediaries involved in the secondary distribution of eligible stablecoins and wrapped tokens from holding additional licences and permitting omnibus custody of digital assets that are financial products subject to controls. The relief extends earlier stablecoin exemptions by removing the need for separate Australian financial services, Australian market, or clearing and settlement facility licences when providing services relating to eligible stablecoins or wrapped tokens. Digital asset custody providers may also hold these financial product digital assets in omnibus accounts, provided they have appropriate record-keeping arrangements and reconciliation procedures. The measures are set out in ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867 and ASIC Corporations (Amendment) Instrument 2025/871, and follow Simple Consultation 32 launched on 29 October 2025, after which ASIC expanded eligibility to include stablecoins and wrapped tokens where the issuer has applied for a licence to issue the financial product and provided additional guidance in the Explanatory Statement.
Australian Securities & Investments Commission 2025-12-09
Australian Securities & Investments Commission finalises class relief for secondary stablecoin and wrapped token distribution and omnibus custody accounts
The Australian Securities & Investments Commission (ASIC) has finalized new class relief measures for the digital asset and payment sectors, exempting certain intermediaries from additional licensing requirements for secondary distribution of eligible stablecoins and wrapped tokens. The relief allows omnibus custody of these digital assets, contingent on proper record-keeping and reconciliation procedures. These measures are detailed in ASIC Corporations Instruments 2025/867 and 2025/871.