Overview
- ASIC released a revised Info Sheet 225 that broadens guidance from crypto assets to digital assets and expands worked examples to 18 to clarify what qualifies as a financial product.
- Stablecoins, wrapped tokens, tokenised securities and digital wallets are treated as financial products under existing law, triggering licensing, disclosure and complaints-handling obligations.
- A sector-wide no-action position runs until June 30, 2026 for firms making genuine efforts to comply, with consultation on targeted relief for stablecoin and wrapped-token distributors and custodians open until November 12, 2025.
- New custody expectations include net tangible asset thresholds up to A$10 million for entities holding client assets and set standards for fund managers and exchange-traded product issuers.
- ASIC reaffirmed that Australian rules apply to offshore and decentralized services marketed to local users and positioned the guidance to align with Treasury’s forthcoming licensing laws, building on September class relief for stablecoin distribution.