The Australian financial regulator has released updated guidelines aimed at expanding the regulation of Crypto Assets.

[Australia's financial regulator issues updated guidelines to expand the scope of regulation on Crypto Assets] The Australian Securities and Investments Commission (ASIC) released a revised version of Info Sheet 225 on Tuesday, clarifying which digital asset products and services may be recognized as financial products under the Corporations Act. The latest update replaces the previous term “crypto-asset” with the broader term “digital asset” to comprehensively cover virtual assets, tokenized assets, and token-based products without omission. Although the guideline does not have the force of new law, ASIC states that its purpose is to provide greater regulatory certainty for businesses ahead of the Australian Treasury's plan to introduce the “Digital Asset Platforms and Payment Service Providers bills.” This bill will introduce a formal licensing system for crypto assets exchanges, custody platforms, and certain stablecoin issuers. In addition, ASIC reiterated that under current laws, many digital assets, including yield-bearing tokens, staking programs, and asset-referenced stablecoins, may require an Australian Financial Services license. This final version of the guidelines is based on the consultation work carried out by ASIC in December 2024, expanding the practical cases from 13 to 18, and adding chapters on custody, fund management, and transitional exemptions. These practical cases cover a wide range, including tokens issued by exchanges, game-related non-fungible tokens (NFTs), yield-bearing stablecoins, wrapped tokens, and staking-as-a-service platforms.