US EditionAustralia’s ASIC Signals Broader Digital Asset Oversight Ahead of New Licensing Regime
ASIC’s updated rules require stablecoin issuers and digital asset platforms to obtain Australian Financial Services Licenses by 2026, with transitional relief until June 30, 2026.
- On Wednesday, the Australian Securities and Investments Commission released updated guidance classifying stablecoins and crypto wallets as financial products, requiring licenses by 2026 and offering no-action relief.
- Regulatory alignment with Treasury prompted ASIC's guidance to bring crypto activity within Australia's financial-services perimeter and prepare for licensing exchanges, custodians and stablecoin issuers.
- Information Sheet 225 explains 13 practical examples, including fiat-backed stablecoins as non-cash payment facilities and wrapped tokens as derivatives, plus custodians must meet 10 million Australian dollars thresholds.
- Crypto firms will face increased compliance as crypto exchanges, custodians, stablecoin issuers, and wallet providers navigate licensing, with industry leaders praising clarity but wary of ASIC's processing capacity and logistical bottlenecks.
- ASIC cautioned that Australian law covers offshore and decentralized platforms marketed locally, excluding Bitcoin, gaming NFTs and tokenized concert tickets, while enforcement expectations rise amid transitional relief.
17 Articles
17 Articles
Australia Mandates Licenses for Stablecoin and Crypto Wallet Providers
The Australian Securities and Investments Commission released updated guidance Wednesday classifying stablecoins, wrapped tokens, tokenized securities and digital asset wallets as financial products requiring licensing. Companies offering these services must obtain an Australian Financial Services License to operate legally in the country. ASIC is providing sector-wide no-action relief until June 30, 2026, giving businesses time to assess requir…
ASIC Sets Clear Rules for Crypto Assets, Licences and Stablecoins
Australia’s financial regulator, ASIC, has issued long-awaited guidance clarifying which crypto assets fall under financial products. The move provides legal certainty for firms but raises concerns about the regulator’s capacity to handle new licensing demands. Under the revised framework, stablecoins, wrapped tokens, and tokenised securities will need authorisation, while Bitcoin and NFTs remain exempt.
Australian Regulator Clarifies Digital Asset Rules, Grants Transition Period Through June 2026
The Australian Securities and Investments Commission (ASIC) has clarified that stablecoins, wrapped tokens, tokenized securities, and digital asset wallets are financial products under existing law, requiring providers to obtain financial services licenses while granting firms an eight-month transition period.ASIC published updated guidance on October 29 confirming that many widely traded digital assets fall under current financial product regul…
Mining for coverage - are insurers ready to dig into Australia’s digital assets market? A first look at the proposed regulation
Introduction The Australian Government has released exposure draft legislation that, if passed, will significantly transform the regulatory framework in the digital assets space. The proposals aim to bring digital asset and tokenised custody platforms within the financial services regulatory perimeter under the Corporations Act 2001 (Cth) (Corporations Act), requiring operators of them to hold an Australian Financial Services Licence (AFSL). The…
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