• 34ºc, Sunny

Australia's financial regulator proposes new crypto rules, highlighting risks and mitigation measures

The Australian Securities and Investments Commission (ASIC) has published a consultation paper proposing to update its regulatory guidance on digital assets, with a focus on compliance requirements under the Companies Act. Amendments to Information Sheet 225 (INFO 225) include 13 working examples aimed at clarifying when digital assets qualify as financial products, such as stablecoins, packaged tokens and staking services. In these examples, ASIC outlines scenarios involving exchange tokens, interest-bearing stablecoins and tokenized assets, such as concert tickets. The draft guidance suggests that classification depends on "the rights, interests, expectations and product characteristics inherent in and provided with the token". ASIC encourages cryptocurrency companies to apply for an Australian Financial Services Licence, providing them with a grace period from legal action.