The Australian Securities and Investments Commission (ASIC) announced on Thursday a new exemption that allows licensed financial intermediaries to distribute stablecoins without having to obtain separate regulatory approvals.
This marks a new approach by the country to the regulation of crypto assets.
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The exemption allows companies already supervised under an Australian Financial Services (AFS) license to offer digital assets linked to fiat currencies without the need to obtain an additional AFS, market, or clearing license.
The exemption, designed to reduce interim licensing friction, will come into effect once it has been officially registered and is set to expire on June 1, 2028.