• Intermediaries can trade stablecoins and wrapped tokens without full financial services licences.
• Providers may hold tokenized financial products in omnibus accounts with proper record-keeping.
• Temporary relief lasts until mid-2028, allowing time for permanent legislation and compliance.

The Australian Securities and Investments Commission unveiled new exemptions for digital asset intermediaries, aiming to support innovation while the country rewrites its crypto rulebook. The relief focuses on eligible stablecoins and wrapped tokens, and narrows the circumstances in which firms need full financial services, market, or clearing licences.

The new exemptions mean that intermediaries handling eligible stablecoins or wrapped tokens no longer need separate Australian financial services, market, or clearing and settlement facility licences when activity stays inside the d…

Read The Full Article Australia Moves to Modernize Crypto Rules With ASIC Stablecoin Relief On Coin Edition.

• Intermediaries can trade stablecoins and wrapped tokens without full financial services licences.
• Providers may hold tokenized financial products in omnibus accounts with proper record-keeping.
• Temporary relief lasts until mid-2028, allowing time for permanent legislation and compliance.

The Australian Securities and Investments Commission unveiled new exemptions for digital asset intermediaries, aiming to support innovation while the country rewrites its crypto rulebook. The relief focuses on eligible stablecoins and wrapped tokens, and narrows the circumstances in which firms need full financial services, market, or clearing licences.

The new exemptions mean that intermediaries handling eligible stablecoins or wrapped tokens no longer need separate Australian financial services, market, or clearing and settlement facility licences when activity stays inside the d…

Read The Full Article Australia Moves to Modernize Crypto Rules With ASIC Stablecoin Relief On Coin Edition.