Overview
- Revised Info Sheet 225 says stablecoins, wrapped tokens, tokenised securities and many wallets are financial products under the Corporations Act, triggering Australian Financial Services licence requirements for providers.
- Firms that hold client assets must meet new custody expectations, including net tangible asset thresholds of up to A$10 million unless custody is incidental.
- ASIC confirmed its rules reach offshore and decentralized platforms that market to Australians, cautioning that geography will not shield non‑compliant services.
- A sector‑wide no‑action position is in place until 30 June 2026, alongside proposed temporary relief for stablecoin distributors and certain custodians.
- Public comment on the draft relief is open until 12 November 2025, with the guidance expanding worked examples to 18 and leaving DeFi licensing needs to case‑by‑case assessment.