Australian financial regulator issues updated guidelines, plans to expand cryptocurrency regulatory scope

Jinse Finance reported that the Australian Securities and Investments Commission (ASIC) released a revised version of Information Sheet 225 (Info Sheet 225) on Tuesday, clarifying which digital asset products and services may be classified as financial products under the Corporations Act framework. The latest update replaces the previous term "crypto-asset" with the broader term "digital assets," aiming to comprehensively cover virtual assets, tokenized assets, and token-based products without omissions. Although this guidance does not have the force of new law, ASIC stated that its purpose is to provide greater regulatory certainty for businesses ahead of the Australian Treasury's planned introduction of the Digital Asset Platforms and Payment Service Providers bills. This bill will introduce a formal licensing regime for cryptocurrency exchanges, custody platforms, and certain stablecoin issuers. In addition, ASIC reiterated that, under current laws, many digital assets—including yield-bearing tokens, staking programs, and asset-referenced stablecoins—may require an Australian Financial Services license. This final version of the guidance is based on ASIC's consultation work conducted in December 2024, expanding the number of practical case studies from 13 to 18 and adding new chapters on custody, fund management, and transitional exemptions. These practical cases cover a wide range of topics, including exchange-issued tokens, gaming-related NFTs, yield-bearing stablecoins, wrapped tokens, and staking-as-a-service platforms.