Australia's financial regulator has taken a significant step to foster digital asset innovation. The Australian Securities and Investments Commission (ASIC) granted a 'class relief' that exempts intermediaries of licensed stablecoins from needing their own separate Australian Financial Services (AFS) license.

This relief, which runs until June 2028, is designed to streamline the distribution of stablecoins issued by AFS-licensed entities. It removes a significant regulatory hurdle for secondary service providers, allowing them to operate without obtaining a full license for market making, clearing, and settlement services. The decision is intended to lower the barrier to entry and promote a competitive market for regulated digital currency products in the country.

This signals a pragmatic approach from Australian regulators. By placing the primary compliance burden on the stablecoin issuer, ASIC is creating a more flexible environment for downstream businesses and services that integrate these assets. The move provides a clear, albeit temporary, framework that allows for market development while an overarching regulatory structure for digital assets is still being finalized.