Australia eases regulations for firms handling stablecoins

The Australian Securities and Investments Commission (ASIC) has decided to substantially ease regulations for intermediaries, such as exchanges and wallet providers, that handle certain stablecoins and wrapped tokens, Decrypt reported. Under the new measures, these firms will be exempt from licensing requirements and permitted to hold customer funds in omnibus accounts, which pool multiple clients' assets into a single account. The move is a temporary measure intended to prevent confusion within the industry until formal legislative regulations are established.