ASIC Clarifies Crypto Rules; Stablecoins, Tokenised Assets Flagged as Financial Products

Australia’s financial regulator, ASIC, has issued long-awaited guidance clarifying which crypto assets fall under financial products. The move provides legal certainty for firms but raises concerns about the regulator’s capacity to handle new licensing demands. Under the revised framework, stablecoins, wrapped tokens, and tokenised securities will need authorisation, while Bitcoin and NFTs remain exempt.