ASIC has today announced new measures to further foster innovation and growth in Australia’s digital assets and payment sectors, granting class relief for intermediaries engaging in the secondary distribution of certain stablecoins and wrapped tokens.

This builds on previous stablecoin relief by exempting intermediaries from the requirement to hold separate Australian financial services (AFS), Australian market, or clearing and settlement facility licences when providing services relating to eligible stablecoins or wrapped tokens.

ASIC has also granted relief to allow providers to hold digital assets that are financial products in omnibus accounts, subject to appropriate record-keeping arrangements and reconciliation procedures.

This relief was foreshadowed when ASIC’s updated digital asset guidance (INFO 225) was published in October.

Download

• ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867
• Explanatory Statement for ASIC Instrument (Stablecoin and Wrapped Token Relief)
• ASIC Corporations (Amendment) Instrument 2025/871
• Explanatory Statement for ASIC Corporations (Amendment) Instrument

Background

ASIC released Simple Consultation 32 Proposed relief for certain stablecoins and wrapped tokens, and extension of omnibus accounts for digital asset custody (CS 32) on 29 October 2025, seeking feedback on the proposed class relief.

Five non-confidential submissions were received in response to CS 32, with industry largely supportive of the proposals. Submissions sought further guidance, clarity of definitions, and broader eligibility aligned with global approaches. In response to the submissions, ASIC has expanded eligible stablecoins and wrapped tokens to include those whose issuers have applied for a licence to issue the financial product. Guidance has also been provided in response to other feedback in the relevant Explanatory Statement.

The class relief comes from Consultation Paper 381 Updates to INFO 225: Digital assets: Financial products and services (CP 381). CP 381 asked for feedback on potential relief for wrapped tokens and ‘stablecoins’ because of the transition to the Government’s proposed digital asset platforms and payment regimes, and custody of digital assets.

ASIC is Australia’s corporate, markets and financial services regulator.