Australia: Australian Securities and Investments Commission adopted Corporations (Stablecoin Distribution Exemption) Instrument 2025/631

On 17 September 2025, the Australian Securities and Investments Commission (ASIC) adopted the ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631 under subsections 791C(7), 820C(7) and 926A(2) of the Corporations Act 2001. The instrument exempts distributors who are not issuers of certain stablecoins, including AUDM issued by Catena Digital Pty Ltd (ACN 669 901 302), from holding an Australian market licence if they operate a financial market solely because the stablecoin is a financial product. It also exempts them from holding an Australian clearing and settlement facility licence if they operate such a facility only because the stablecoin is a financial product. Additionally, they do not need an Australian financial services licence for activities such as providing general advice, dealing in (other than issuing), making a market for, or providing custodial or depository services related to the stablecoin. These exemptions are conditional, distributors must take reasonable steps to provide the most current Product Disclosure Statement for the stablecoin to retail clients. The instrument takes effect the day after registration on the Federal Register of Legislation and will repeal on 1 June 2028.