Australia’s securities regulator, ASIC, has finalized exemptions to support the distribution of stablecoins and wrapped tokens. These measures aim to foster innovation and growth in the digital assets and payment sectors by granting class relief for intermediaries without requiring separate licenses. The new exemptions remove the need for separate AFS licenses for intermediaries working with stablecoins or wrapped tokens.

The new omnibus account structures, allowed by the exemptions, offer efficiencies in speed, transaction costs, and risk management for stablecoin issuers. CEO of Macropod, Drew Bradford, believes ASIC’s announcement levels the playing field for stablecoin innovation in Australia by providing a clearer and more flexible framework for both new and established players.

Total stablecoin market capitalization has reached over $300 billion, growing by 48% since the start of the year, with Tether maintaining a 63% market share. This surge in stablecoin markets highlights the continued dominance of Tether in the global stablecoin sector.

Read more at Cointelegraph: ASIC Eases Stablecoin And Wrapped Token Rules