Australian Securities and Investment Commission provides regulatory exemptions for stablecoin intermediaries

According to Shenzhen Chao TechFlow, the Australian Securities and Investment Commission (ASIC) announced regulatory exemptions for stablecoin intermediaries. This exemption allows it to not have a separate AFS, market or clearing agency license when distributing stablecoins held by an issuer of Australian Financial Services (AFS) license. This is Australia's first collective exemption measure of this type, aiming to promote growth and innovation in the digital assets and payments sectors. Steve Vallas, CEO of Blockchain Asia Pacific, said the move is a pragmatic transition measure before the stablecoin reform and will help alleviate regulatory frictions. The waiver may be extended to more issuers as more stablecoins get AFS licenses.