Regulation · Instrument · Australia · Exemptive order · Australian Securities and Investments Commission
ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867New
ASIC class relief, made on 5 December 2025, that lets firms distributing eligible stablecoins and wrapped tokens (but not issuing them) do so without their own market, clearing and settlement or financial services licence, and without some disclosure duties. An eligible stablecoin must come from an issuer that holds an AFSL for it (or applied for one by 30 June 2026, or is an exempt foreign issuer), be redeemable at par, and be backed by segregated cash or cash-equivalent reserves in the same currency held only for redemptions. Conditions include regular published reserve reports. It is due to be repealed on 1 January 2029.
In force · effective 8 Dec 2025 · part of Australian financial services law for digital assets (Corporations Act, ASIC INFO 225 and the Digital Assets Framework Act)
Key points
- Distributors of eligible stablecoins and wrapped tokens are exempt from needing an Australian market licence, a clearing and settlement facility licence or an AFSL for the covered activities.[1]
- An eligible stablecoin must be redeemable at par by holders (subject only to KYC and minimum amounts), with reserves at least equal to the coins on issue, held separately in cash or cash equivalents in the reference currency.[1]
- Holders may get no return or other benefit from the reserves beyond the redemption right.[1]
- Eligible issuers include those that applied to ASIC for the relevant AFSL on or before 30 June 2026 and have not been refused.[1]
Timeline
- 29 Oct 2025 · ConsultationASIC announces an in-principle decision to grant the relief; feedback on the draft invited until 12 November 2025.[2]
- 5 Dec 2025 · FinalInstrument made by ASIC.[1]
- 8 Dec 2025 · In forceRegistered and effective.[3]
- 1 Jan 2029 · Expired · upcomingInstrument repeals itself.[3]
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| AUDM Australian dollar stablecoin (Macropod)New Macropod Global | Live (limited) | Reviewed 21d ago |
Sources
- [1]ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867 (as made) — Federal Register of Legislation, 8 Dec 2025. Accessed 18 Oct 2026.A
- [2]25-250MR Updated ASIC guidance supports digital asset innovation and boosts investor protection — Australian Securities and Investments Commission, 29 Oct 2025. Accessed 18 Oct 2026.A
- [3]ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867 — Federal Register of Legislation, 8 Dec 2025. Accessed 18 Oct 2026.A