TechFlow news, October 29 — According to Decrypt, the Australian Securities and Investments Commission (ASIC) has issued a significant update to its digital assets guidance, expanding the scope of existing financial services laws to apply to cryptocurrency businesses.
On Tuesday, ASIC released an updated Information Sheet 225, clarifying when digital asset products and services may be considered financial products under the Corporations Act. The latest revision replaces the earlier term "crypto assets" with the broader term "digital assets," aiming to cover virtualized, tokenized, and token-based products.
The guidance expands worked examples from 13 to 18 and introduces new sections on custody, fund management, and transitional relief. ASIC reiterated that many digital assets, including yield-bearing tokens, staking arrangements, and asset-referenced stablecoins, may require an Australian Financial Services Licence under current law.
The regulator also emphasized that Australian laws apply equally if offshore and decentralized platforms market or sell to local users. New custody obligations require firms holding client assets to meet a net tangible assets threshold of up to AUD 10 million.
