Great news for the Australian cryptocurrency ecosystem! The Australian Securities and Investments Commission (ASIC) has just taken a significant step to support innovation by granting regulatory exemptions for the distribution of Australian dollar-denominated stablecoins.
What’s the news?
ASIC has issued a new “class waiver” that removes a major regulatory hurdle for businesses distributing and facilitating transactions with AUD stablecoins. Previously, these activities could have required a full Australian financial services (AFS) licence, a complex and costly process that could stifle new projects.
This exemption applies specifically to fiat-backed stablecoins that are priced at $1 AUD and are fully backed by high-quality Australian assets held by an Australian authorised deposit-taking institution (ADI).
Why is this a big deal for CoinPort and our users?
This move by ASIC is a powerful endorsement of the digital asset industry and directly supports a healthier, more innovative market. For us at CoinPort, it means:
The Bottom Line
This decision signals that Australian regulators are not just watching the crypto space but are actively working to foster its safe and responsible growth. It aligns with the government’s broader strategy to make Australia a competitive leader in digital asset innovation.
At CoinPort, we welcome this progressive move by ASIC. We believe it paves the way for a more mature and accessible cryptocurrency market in Australia, and we are excited to be part of this journey.
Source: ASIC supports innovation through exemptions for distributors of Australian stablecoin
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Kind regards
The CoinPort Exchange Team