The Australian Securities & Investments Commission has updated Information Sheet 225 to clarify how existing Australian financial services laws apply to digital assets, aiming to provide greater regulatory certainty for firms and stronger protections for investors. The guidance states that stablecoins, wrapped tokens, tokenised securities and digital asset wallets are among the products ASIC considers to be financial products, meaning many providers will need an Australian financial services licence. To support transition ahead of the Government’s proposed digital asset and payment reforms, ASIC has granted a sector-wide no-action position for digital asset businesses until 30 June 2026 and has made an in-principle decision to grant proposed relief for distributors of certain stablecoins and wrapped tokens, along with certain relief for custodians of digital assets that are financial products, including an extension of omnibus accounts for digital asset custody. Draft relief instruments are open for feedback until 12 November 2025, and ASIC has also published a summary of feedback themes from submissions to Consultation Paper 381, which informed the no-action position, the proposed relief and additional examples in the guidance. ASIC will factor the no-action position into its consideration of historical conduct, while continuing to take action against egregious conduct involving significant consumer harm or widespread systemic misconduct.

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