Australia’s corporate regulator has taken steps to relax compliance requirements for parts of the digital asset market. In a new move, the regulator is now providing new regulatory relief to support innovation in stablecoins and wrapped tokens.
The Australian Securities and Investments Commission (ASIC) said the measures will help intermediaries active in the secondary distribution of certain digital assets. It would also work to enforce safeguards around custody and record keeping.
Relief for intermediaries and custodians
Under the new framework, ASIC will not require intermediaries engaged in eligible stablecoins and packaged tokens to hold separate Australian financial services licenses, Australian market licenses or clearing and settlement facility licenses for these activities.
Australia just made stablecoins easier to use! 🇦🇺
ASIC granted ‘class relief’, exempting intermediaries from holding multiple licenses to distribute certain stablecoins and wrapped tokens.
This large regulatory easement reduces compliance costs and paves the way for… pic.twitter.com/EXANFtsssc
— Conor Kenny (@conorfkenny) December 11, 2025
ASIC also confirmed it will allow providers to hold digital assets that qualify as financial products in omnibus accounts. However, companies must maintain appropriate record-keeping systems and reconciliation processes. This approach brings the custody of digital assets more closely in line with established practices in traditional financial markets.
The regulator said these changes build on previous stablecoin-related relief. They also reflect a commitment to removing regulatory friction as Australia transitions to updated frameworks for digital assets and payments.
Guidance linked to the October Digital Asset Update
The relief was previously announced when ASIC published its updated digital asset guidance, INFO 225, in October. That update outlined how certain crypto assets could fall within the definition of financial products under existing law.
The latest measures formalize elements of that guidance, particularly around custody arrangements and licensing obligations, creating clearer expectations for companies operating in the sector.
LATEST: 🇦🇺 The Australian government has introduced a new bill to Parliament that would subject crypto exchanges and custodians to the same licensing requirements and laws as traditional financial institutions. pic.twitter.com/os2vrw6CQB
— CoinMarketCap (@CoinMarketCap) November 27, 2025
Industry feedback will inform the final rules
ASIC’s decision follows a consultation launched in late October through Simple Consultation 32, which sought feedback on proposed relief for stablecoins, wrapped tokens and the expansion of omnibus custody accounts.
Five non-confidential submissions were received, with the majority of respondents supporting the proposals. Industry participants called for clearer definitions and broader eligibility that better reflect international regulatory approaches.
In response, ASIC has expanded the range of eligible stablecoins and wrapped tokens to include those whose issuers have applied for a license to issue a financial product. Additional explanations are also included in the accompanying notes.
Part of a broader digital asset transition
The class relief is based on Consultation Paper 381, which explored regulatory changes as Australia prepares for the government’s proposed digital asset platform and payment regimes.
The move places Australia alongside other jurisdictions that are gradually refining crypto rules, balancing oversight with flexibility as stablecoins and tokenized assets gain traction in global financial systems.
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