Australia's Financial Watchdog Offers Exemptions to Stablecoin Intermediaries

Australia's Securities and Investments Commission (ASIC) said it plans to exempt stablecoin intermediaries from the requirement to hold a financial services license. The financial watchdog said it granted class relief for parties engaging in the distribution of a stablecoin from an existing licensed issuer in an announcement on Thursday. The exemption means the intermediaries do not require a a separate Australian financial services (AFS), Australian market or clearing and settlement facility licenses wh ...