ASIC eases rules on brokerage use of stablecoins

The Australian Securities and Investments Commission (ASIC) is moving to ease regulations for firms holding an Australian Financial Services (AFS) license, exempting them from separate licensing requirements when using stablecoins, Decrypt reported. However, a condition requires these brokerage firms to provide customers with a Product Disclosure Statement (PDS) when utilizing stablecoins. The measure is reportedly being viewed positively in Australia as a step toward resolving regulatory uncertainty in the stablecoin market. ASIC also plans to cooperate closely with the Treasury Department to establish a future regulatory framework for the assets.