TechFlame, on September 18, according to Decrypt, the Australian Securities and Investments Commission (ASIC) announced regulatory exemptions for stablecoin intermediaries, allowing them to distribute stablecoins from Australian Financial Services (AFS) licensed issuers without holding a separate AFS, marketplace, or clearing agency license.

This is the first such collective exemption in Australia to promote growth and innovation in the digital assets and payments sector, and the exemption will take effect once registered in federal legislation.

Blockchain Asia Pacific CEO Steve Vallas said the move was a “pragmatic” transition before broader stablecoin reforms and would help ease regulatory frictions as the Treasury finalizes the proposed stablecoin system. As more stablecoins get AFS

licenses, the exemption could be extended to more issuers.