On December 11, Cointelegraph reported that Australia's securities regulator has finalized a series of exemptions to make it easier for businesses to distribute stablecoins and wrapped tokens. The Australian Securities and Investments Commission (ASIC) announced these new measures on Tuesday, aiming to promote innovation and growth in the digital asset and payments sectors.
ASIC has stated that it is granting "category exemptions" to intermediaries engaged in secondary distribution activities for certain stablecoins and wrapped tokens. This means that businesses no longer need separate, and often expensive, licenses to act as intermediaries in these markets, and they can now use "aggregate accounts" provided they are properly documented.
The new exemption further expands the previous waiver for stablecoins, removing the requirement that intermediaries must hold a separate Australian Financial Services (AFS) license when providing services related to stablecoins or wrapped tokens.
