The Australian Securities & Investments Commission (ASIC) has issued class relief for intermediaries engaged in the secondary distribution of a stablecoin issued by an Australian financial services (AFS) licensed issuer, removing the need for those intermediaries to obtain separate licences for the relevant stablecoin-related services. Under the first-of-its-kind exemption in ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631, eligible intermediaries are exempt from requirements to hold separate AFS, Australian market, or clearing and settlement facility licences. Intermediaries relying on the relief must make the exempt stablecoin’s product disclosure statement available to clients where the issuer has prepared a product disclosure statement. The relief takes effect once registered on the Federal Register of Legislation. ASIC indicated it will consider extending the relief to intermediaries distributing other eligible stablecoins as more issuers obtain an AFS licence. Separately, ASIC expects to publish final updates to its crypto and digital assets guidance (INFO 225) in the coming weeks, alongside key thematics and public submissions received in response to Consultation Paper 381.
Australian Securities & Investments Commission 2025-09-18
Australian Securities & Investments Commission grants class relief exempting intermediaries distributing AFS-licensed stablecoins from additional licensing
The Australian Securities & Investments Commission (ASIC) has introduced class relief for intermediaries in the secondary distribution of a stablecoin by an Australian financial services licensed issuer, exempting them from needing separate licences. This exemption requires intermediaries to provide clients with the stablecoin’s product disclosure statement if prepared by the issuer. ASIC may extend this relief to other eligible stablecoins and plans to update its crypto and digital assets guidance soon.