Global Stablecoin Regulation

Australia

Last Updated: May 20, 2026

Plasma

Last Updated: May 20, 2026

Australia has enacted its digital asset framework. The Corporations Amendment (Digital Assets Framework) Act 2026, which received Royal Assent on April 8, 2026, brings digital asset platforms and tokenised custody within the Corporations Act; it commences April 9, 2027, so the existing framework remains operative in the interim. Under ASIC Instrument 2025/631, intermediaries may distribute named AUD-backed stablecoins issued by an AFS-licensed issuer, subject to conditions including making the PDS available to retail clients. Confirmed domestic issuers under this relief include Catena Digital (AUDM) and Novatti (AUDD). Foreign-issued stablecoins such as USDT and USDC are tradeable on Australian exchanges but their issuers do not hold Australian AFSL authorisations. Platforms facilitating stablecoin transactions must maintain AUSTRAC DCE registration for AML/CTF compliance.

ASIC media release

Treasury Minister media release

Legal Status

Legal with restrictions

Regularity Clarity

4/5

Regime Status

Not found: Enacted - Pending Effective Date

Allowed Types

Fiat Referenced

Classification

Payment Instrument

Stablecoins are classified by function under the Corporations Act. Where a token enables payments, it will often be a non-cash payment (NCP) facility, making it a financial product that triggers AFSL and disclosure obligations. Depending on features and arrangements, a token could also meet other financial-product definitions (e.g., managed investment scheme, debenture, derivative). ASIC applies priority-of-classification rules case by case. ASIC’s 2025/631 class relief lets intermediaries distribute named AUD-backed stablecoins issued by an AFS-licensed issuer, but it does not change the underlying classification. Separately, the Government is consulting on payments-licensing reforms that would capture stored-value facilities associated with payment stablecoins.

ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631

Treasury Minister release

Regulatory Authorities

Australian Securities and Investments Commission (ASIC)

ASIC is the primary regulator for stablecoins, overseeing licensing of issuers, granting temporary exemptions for distributors, and enforcing compliance with financial services laws.

Treasury

Treasury is responsible for developing and proposing legislation to regulate digital asset platforms, stablecoins, and payment services, including the exposure draft legislation released in 2025.

Top Issuers

Novatti (AUDD)

Catena Digital (AUDM)

Consumer Protection

Reserve Requirements

No prescriptive, stablecoin-specific reserve or 1:1 backing rule is in force. Where a stablecoin is a financial product, issuer disclosures (e.g., PDS) set out the backing and risks; ASIC’s 2025/631 relief for distributors does not mandate reserve ratios.

Auditing

No mandated third-party reserve attestation cadence exists for stablecoins. AFSL holders remain subject to general AFS licensee obligations (e.g., to provide services efficiently, honestly and fairly) and financial-reporting duties; distributors relying on the relief must make the issuer’s PDS available to retail clients.

Redemption Rights

No statutory right to redeem at par applies generally. Redemption terms (including timing and fees) are determined by the issuer’s PDS/terms; the ASIC relief requires PDS availability but does not create a redemption guarantee. Platforms offering access must also meet AUSTRAC AML/CTF obligations.

Recent Developments

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