Australia’s ASIC Updates Regulatory Framework for Digital Assets Under Existing Laws
Australia's financial regulator, ASIC, has refined its guidance on digital assets, clarifying that many fall under the existing Corporations Act 2001. The updated framework replaces "crypto assets" with the broader term "digital assets" and outlines 13 scenarios where tokens or staking programs qualify as financial products—requiring licensing. This MOVE precedes anticipated legislative reforms and aims to provide interim clarity for businesses navigating the evolving landscape.
The transition period acknowledges operational adjustments needed before new Treasury bills take effect. ASIC's approach balances immediate compliance pathways with forward-looking adaptability, signaling a maturation of Australia's digital asset oversight without awaiting formal legislation.
