CS 30: Proposed extension of stablecoin distribution exemption

CS 30: Proposed extension of stablecoin distribution exemption

ASIC is proposing to make ASIC Corporations (Amendment) Instrument 2025/XXX (ASIC Instrument 2025/XXX).

This instrument would amend ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631 (ASIC Instrument 2025/631) to add a second Named Stablecoin, and make some minor consequential and clarification changes.

Certain amendments to be made by ASIC Instrument 2025/XXX will be made pursuant to subsections 791C(9) and 820C(9) of the Corporations Act 2001 . Accordingly, ASIC is publishing this notice seeking feedback as provided for in paragraphs 791C(10)(b) and 820C(10)(b) of the Corporations Act. ASIC has already engaged in targeted consultation on the amendments.

Providing feedback

We invite feedback on our proposal. You should send your submission to fintech@asic.gov.au by 5pm on Thursday 2 October 2025 AEST .

You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous we will not be able to contact you to discuss your feedback should we need to.

We will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential.

Please see our privacy policy for more information on how we handle personal information, your rights to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.

Background

ASIC Instrument 2025/631 provides class relief for intermediaries engaging in the secondary distribution of a stablecoin issued by an Australian financial services (AFS) licensed issuer.

The relief exempts intermediaries from the requirement to hold separate AFS, Australian market, or Australian clearing and settlement facility licences when providing services related to stablecoins issued by an AFS licensee.

In announcing the relief ASIC stated that as and when more issuers of eligible stablecoins obtain an AFS licence, ASIC will consider extending the above relief to intermediaries distributing those stablecoins.

Related links

• ASIC supports innovation through exemptions for distributors of Australian stablecoin

• ASIC proposes extending stablecoin distribution exemption

• ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631

• Draft ASIC Corporations (Amendment) Instrument 2025/XXX (PDF 243 KB)

Attachment to CS 30: Draft ASIC Corporations (Amendment) Instrument 2025/XXX

ASIC Corporations (Amendment) Instrument

2025/XXX I, ____________, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 2025

[DRAFT ONLY – NOT FOR SIGNATURE] <signature>

ASIC Corporations (Amendment) Instrument 2025/XXX

Contents

Part 1—Preliminary 3

1 Name of legislative instrument ....................................................................... 3 2 Commencement .............................................................................................. 3 3 Authority ......................................................................................................... 3 4 Schedules ........................................................................................................ 3

Schedule 1—Amendments 4

ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631 4

ASIC Corporations (Amendment) Instrument 2025/XXX Part 1—Preliminary

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2025/XXX.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation. Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under subsections 791C(7), 791C(9), 820C(7), 820C(9) and 926A(2) of the Corporations Act 2001.

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

ASIC Corporations (Amendment) Instrument 2025/XXX Schedule 1—

Amendments

Schedule 1—Amendments

ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631

1 Section 4

Omit: The exemptions are subject to a condition that the Distributor must take reasonable steps to give or make available a Product Disclosure Statement in relation to the stablecoin to retail clients. substitute: The exemptions are subject to a condition that the Distributor must take reasonable steps to give or make available a Product Disclosure Statement in relation to the stablecoin to retail clients where one has been prepared by the issuer of the stablecoin.

2 Subsection 5(2) (after table item 1)

Insert:

2 Forte Securities Australia Pty Limited

ACN 614 579 734 AUDF

3 Sections 6 and 7

Omit “a Named Stablecoin”, substitute “one or more Named Stablecoins”.

4 Section 9

After “most current in use”, insert “, where one has been prepared by the Named Stablecoin Issuer”.

5 At the end of section 9

Add: Note: If a Named Stablecoin is issued without a Product Disclosure Statement being prepared, subsequent offers for sale of the Named Stablecoin may require a Product Disclosure Statement: see section 1012C of the Act.