General information only - not financial or tax advice.
Yes. Stablecoins are legal to use in Australia. Businesses can receive, hold, and use fiat-backed stablecoins such as USDT and USDC for payments, invoicing, and settlement, provided they comply with existing regulatory obligations.
Regulatory context: this guide covers crypto regulation Australia at a high level and how AUSTRAC and ASIC crypto oversight can affect business payment workflows.
Australia does not currently have a standalone stablecoin-specific law. Instead, stablecoin activity is governed under existing digital asset, payments, and financial compliance frameworks.
In Australia, stablecoins are generally treated as digital assets rather than legal tender. This means they are not considered Australian dollars, but their use in commercial transactions is permitted.
Businesses accepting stablecoins are subject to the same overarching principles that apply to other digital payment methods, including record-keeping, reporting, and consumer protection expectations.
The primary regulatory body overseeing stablecoin-related activity is AUSTRAC. Businesses that provide designated services involving digital assets may be required to register with AUSTRAC and comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations.
These obligations typically include customer identification, transaction monitoring, and reporting of suspicious activity. The requirements apply to service providers rather than end merchants using stablecoins for payment.
The Reserve Bank of Australia (RBA) has acknowledged the growing role of stablecoins in the payments ecosystem. The RBA has stated that fully backed stablecoins could play a role in modern payment infrastructure, subject to appropriate safeguards.
Ongoing consultation between regulators and industry participants continues to shape how stablecoins may be formally regulated in the future.
For Australian businesses, receiving stablecoins as payment generally has tax and accounting implications similar to other forms of digital assets. Transactions should be recorded at their Australian dollar value at the time of receipt.
Businesses should work with qualified tax and accounting professionals to ensure appropriate treatment for GST, income tax, and reporting purposes.
Compliance does not prevent businesses from using stablecoins; rather, it provides a framework for safe and transparent adoption. Using AUSTRAC-registered service providers helps businesses meet their regulatory obligations while benefiting from predictable settlement.
For Australian businesses, this allows stablecoins to be used confidently for payments and invoicing within a regulated environment.
Related guides: what regulations apply to stablecoins ?, what a stablecoin is, and are stablecoins safe for business use?.
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Settle stablecoins to AUD and cash out to your bank typically within the same day. Sell USDC and USDT to AUD easily.
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