Core Insights - The Australian Securities and Investments Commission (ASIC) has granted class relief for intermediaries distributing stablecoins issued by licensed Australian Financial Services (AFS) providers, exempting them from separate licensing requirements until June 2028 [1][2] - The relief is aimed at enhancing the commercial viability of stablecoin distribution, addressing significant barriers posed by existing licensing regimes [5][6] Regulatory Framework - ASIC's relief allows distributors to operate without an Australian market, clearing and settlement facility, or additional AFS licenses when handling stablecoins from licensed issuers [1] - The regulatory framework follows extensive consultations and updates from December 2024, clarifying that some stablecoins qualify as financial products under current law [3][4] Industry Feedback - The exemption responds to industry feedback regarding compliance costs and regulatory burdens that hinder stablecoin distribution [5][6] - Stablecoin issuers indicated that distribution would not be commercially viable without the licensing relief for intermediaries [6] Specifics of the Relief - The instrument exempts distributors from three key licensing requirements when operating financial markets, clearing and settlement facilities, or providing financial services related to stablecoins [7] - Services covered under this relief include general advice, dealing, market making, and custodial or depository services for named stablecoins [7]