Australian regulator eases rules for stablecoins and wrapped tokens

Australia’s securities regulator has removed licensing requirements for stablecoin intermediaries and approved omnibus accounts, reducing compliance costs.

Australia’s securities regulator has finalized exemptions that will make it easier for businesses to distribute stablecoins and wrapped tokens.

The Australian Securities and Investments Commission (ASIC) on Tuesday announced the new measures, aimed at fostering innovation and growth in the digital assets and payment sectors. 

It stated that it was “granting class relief” for intermediaries engaging in the secondary distribution of certain stablecoins and wrapped tokens.

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