Australia’s Stablecoin Path: Relief Now, Full Framework Later

[cryptohog]

ASIC’s move follows feedback on its consultation paper on crypto assets. Stakeholders said intermediaries faced burdensome compliance costs, especially when dealing with regulated stablecoins.

This exemption will act as a bridge until broader reforms, including a dedicated stablecoin licensing framework, are implemented.

At the same time, challenges for Australian crypto users remain. According to a Binance survey of 1,900 participants:

58% want easier, unlimited bank deposits into exchanges.

22% have already switched banks for better crypto access.

This friction exists despite progress such as AML rules for exchanges (since 2018) and the launch of spot Bitcoin and Ether ETFs in 2024.

Australia now sits at a critical point: regulatory clarity is improving, but banking restrictions continue to slow adoption.

[jacson4]

Stablecoin relief = step forward But banking restrictions still choke adoption ️

[Nahid10]

Australia’s at a crossroads: better regulation, but real access still limited