Australia's Financial Watchdog Offers Exemptions to Stablecoin Intermediaries

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By Jamie Crawley | Edited by Sheldon Reback Updated Sep 18, 2025, 9:13 a.m. Published Sep 18, 2025, 9:12 a.m. Australia's Securities and Investments Commission (ASIC) has exempted stablecoin intermediaries from the requirement to hold an existing financial services license. (Caleb/ Unsplash modified by CoinDesk) What to know : Australia's ASIC will exempt stablecoin intermediaries from needing a financial services license. The exemption applies to intermediaries distributing stablecoins minted by issuers who are already licensed. This move aligns with Australia's broader strategy to integrate digital assets into its economy. Australia's Securities and Investments Commission (ASIC) said it plans to exempt stablecoin intermediaries from the requirement to hold a financial services license. The financial watchdog said it granted class relief for parties engaging in the distribution of a stablecoin from an existing licensed issuer in an announcement on Thursday . STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The exemption means the intermediaries do not require a a separate Australian financial services (AFS) , Australian market or clearing and settlement facility licenses when providing services related to stablecoin issued by an existing AFS licensee. Stablecoins, crypto tokens pegged to the value of a traditional financial asset such as a fiat currency, have become front and center of different countries' developing regulation of the cryptocurrency industry, following the introduction of regulatory regimes in markets such as the U.S. and Hong Kong . More broadly, Australia showed signs of embedding digital assets into its economy earlier this year with the publication of a Treasury whitepaper, describing how the government planned to embrace tokenization, real-world assets and wholesale central bank digital currencies (CBDCs) to make financial markets more efficient. Read More: Bank of England’s Proposed Stablecoin Ownership Limits Are Unworkable, Say Crypto Groups: Report Australia Stablecoins Australian Securities and Investments Commission Regulation More For You SEC Makes Spot Crypto ETF Listing Process Easier, Approves Grayscale's Large-Cap Crypto Fund By Krisztian Sandor | Edited by Aoyon Ashraf , Nikhilesh De 11 hours ago The move opens the way for exchanges to list spot digital asset-backed funds without the case-by-case approval of the regulator. What to know : The SEC approved generic listing standards, which allow exchanges to list commodity-based exchange-traded products, including cryptocurrencies, without individual reviews. The move was aimed at reducing barriers to access digital asset products in a regulated manner, SEC Chairman Paul Atkins said. The SEC also approved the Grayscale Digital Large Cap Fund and options tied to the Cboe Bitcoin U.S. ETF Index. 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