Key Rule Changes
The Australian Securities and Investments Commission (ASIC) has introduced new exemptions that reduce licensing pressure on firms handling stablecoins and wrapped tokens. The update removes high entry costs and helps businesses operate with greater clarity. It also signals a major step in how the nation plans to govern digital assets in the years ahead.
ASIC confirmed that intermediaries distributing approved stablecoins and wrapped tokens no longer need separate Australian Financial Services (AFS) licenses. The regulator granted class relief to streamline operations and cut expenses.
Companies may now use omnibus accounts, a structure familiar in traditional markets. These accounts reduce settlement times, lower costs, and support stronger cybersecurity. The shift reflects a broader global push for modern crypto regulation.
Industry Response Strengthens
The industry reacted positively. Macropod CEO Drew Bradford said the move helps stablecoin issuers compete fairly. He noted that the framework reduces friction and offers a flexible environment for companies building new products.
Bradford said that real-world payment use cases, treasury flows, and cross-border transfers benefit from clear rules. He believes the updated crypto regulation gives the sector confidence to grow.
Stablecoin Market Outlook
TRM Labs executive Angela Ang also supported the decision. She said Australia is moving in the right direction and that more clarity is expected as the government continues shaping long-term crypto regulation.
Custody Rules Expanded
ASIC extended relief to custody services. Providers may now hold tokenized financial products in omnibus accounts, provided they maintain proper records and follow reconciliation steps.
This system mirrors traditional finance and brings digital assets closer to established standards. It also strengthens oversight under expanding crypto regulation.
Consultation Feedback Helps Shape Final Rules
ASIC held a public consultation before finalizing the exemptions. Five submissions were received. Most supported the plan but asked for clearer definitions. The regulator widened eligibility to include tokens issued by firms applying for licenses.
These adjustments sit within the broader INFO 225 framework released earlier. The guidance classifies many stablecoins, wrapped tokens, tokenized securities, and some digital wallets as financial products. This interpretation ties them directly to existing crypto regulation laws.
Transition Timeline
To support a smooth shift, ASIC adopted a no-action stance until June 30, 2026. Firms will have time to study the guidance, apply for licenses, or adjust operations.
The temporary relief will stay active until mid-2028. By that time, lawmakers aim to roll out formal legislation for tokenized payments and custody services. The transition plan offers stability while broader crypto regulation continues to take shape.
Ongoing Enforcement Efforts
Even with new flexibility, ASIC’s enforcement actions have not slowed. The agency secured a temporary travel ban against Blockchain Global director Ryan Xu. The ban relates to the collapse of the ACX Exchange, which left creditors owed more than 58 million Australian dollars.
Growing Local Market
Australia’s digital-asset adoption reached 31 percent in 2025. Self-managed superannuation funds increased their exposure to crypto assets to 1.7 billion Australian dollars since 2021.
Major exchanges are expanding into this market. Coinbase is preparing a retirement-focused service to meet rising demand.
Conclusion
The new exemptions show Australia’s commitment to supporting innovation while improving oversight. They reduce licensing barriers, improve operational flexibility, and give businesses clearer standards to follow.
As global demand rises, the country’s approach to crypto regulation will play a key role in shaping its digital economy. The relief measures mark an important step toward long-term law reform and a stronger digital-asset framework.
Appendix Glossary of Key Terms
Crypto Regulation: Rules and guidelines that govern how digital assets, exchanges, and financial services operate within a country.
ASIC: Australia’s financial regulator responsible for supervising markets, licensing, and digital asset compliance.
Stablecoins: Digital currencies designed to maintain a steady value, usually backed by cash, bonds, or other reserve assets.
Wrapped Tokens: Digital representations of assets that allow them to move or function across different blockchain networks.
AFS License: A mandatory license required for businesses offering financial services or products in Australia.
Omnibus Accounts: Shared accounts used by providers to hold multiple clients’ assets together while tracking individual balances internally.
Frequently Asked Questions ASIC Crypto Regulation
1- What did ASIC change?
ASIC removed the need for separate licenses for distributing certain stablecoins and wrapped tokens under evolving crypto regulation.
2- Are omnibus accounts allowed?
Yes. Firms can use omnibus accounts if they maintain proper records.
3- How long will relief last?
The relief continues until mid-2028, when new laws under broader crypto regulation are expected.
4- Do consumer protections stay?
Yes. Firms must still provide Product Disclosure Statements.