Australian regulators ease regulations on stablecoins and wrapped tokens

BlockBeats News, December 11th, according to Cointelegraph, the Australian securities regulator has finalized a series of exemptions to make it easier for companies to distribute stablecoins and wrapped tokens. The Australian Securities and Investments Commission (ASIC) announced these new measures on Tuesday, aimed at fostering innovation and growth in the digital assets and payments sectors. ASIC stated that it is granting class exemptions to intermediaries engaged in certain secondary distribution activities of stablecoins and wrapped tokens. This means that companies no longer need to obtain separate, often costly licenses to act as intermediaries in these markets, and they can now use “aggregation accounts” with proper record-keeping. The new exemptions further expand the previously relaxed scope for stablecoins, eliminating the requirement for intermediaries to hold a separate Australian Financial Services (AFS) license when providing services related to stablecoins or wrapped tokens.