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

On 18 September 2025, the Australian Securities and Investments Commission (ASIC) Corporations (Stablecoin Distribution Exemption) Instrument 2025/631 entered into force following its registration on the Federal Register of Legislation. 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 will be applicable until 1 June 2028.