ASIC proposes extending stablecoin distribution exemption
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The news: Australia’s corporate regulator, ASIC, is proposing to extend a class exemption that allows intermediaries to distribute a second stablecoin issued by a licensed Australian financial services firm without needing separate licences.
Under the proposed changes, ASIC's existing instrument would be amended to include a second named stablecoin and to clarify certain technical points.
Feedback on the draft amendment is open until 5pm AEST on Thursday 2 October 2025.
The context: The relief was first granted on 18 September for the distribution of one stablecoin, and now ASIC plans to extend it to a second eligible stablecoin.
Stablecoins are cryptocurrencies designed to have a stable value — often pegged to a fiat currency. To regulate their distribution, intermediaries, such as platforms or service providers, usually need to hold licences under Australia’s financial services laws.
ASIC’s original instrument carved out an exemption for intermediaries distributing a stablecoin issued by an AFS-licensed issuer, so they wouldn’t need additional licences just for that activity.
Now that more issuers may obtain licences, ASIC is proposing to extend this regulatory relief to cover a second stablecoin and make clarifications to ensure the rules are workable in practice.
The source: ASIC media release
