Australia’s financial regulator expands oversight of digital assets with new guidance

The Australian Securities and Investments Commission (ASIC) has updated its Info Sheet 225 to enhance oversight on digital assets, mandating new custodial standards and expanding classifications. This move aligns with upcoming Treasury legislation and reinforces licensing requirements for crypto businesses.

The revisions include a new broader terminology, shifting from ‘crypto assets’ to ‘digital assets.’ ASIC emphasizes that digital assets, especially yield-bearing tokens and stablecoins, may require financial service licenses, affecting both local and offshore platforms.