Australia Eases Stablecoin Licensing Rules with AUDM First in Line

Australia’s financial regulator, ASIC, has rolled out new rules to make stablecoin distribution easier. Intermediaries who distribute stablecoins issued by licensed financial service providers no longer need their own licenses.

The change comes under a new law called the “Stablecoin Distribution Exemption” and is aimed at boosting digital asset adoption. ASIC says the move balances innovation with consumer protection by ensuring only licensed entities can issue stablecoins.

First Stablecoin in the Program

Right now, the rule only covers Catena Digital’s AUDM token. More issuers may qualify as they receive proper licensing. The exemption allows services like trading, advice, custodial holding, and market-making, but not actual stablecoin issuing.

Temporary but Important

The relief is temporary, set to expire in June 2028 unless extended. It’s designed to cut compliance costs while Australia builds a full licensing framework for payment stablecoins.

Banking Still a Roadblock

Despite regulatory progress, many Australian crypto users face banking headaches. A Binance survey shows 58% of users want easier deposits, and some even switch banks to avoid restrictions. This happens even though the country already has strict AML rules and ETFs for Bitcoin and Ether.