The Australian Securities and Investments Commission has released a consultation paper proposing updates to its regulatory guidance on digital assets, focusing on compliance requirements under the Corporations Act. 

The revisions to Information Sheet 225 (INFO 225) include 13 worked examples designed to clarify when digital assets qualify as financial products, such as stablecoins, wrapped tokens, and staking services.

Among the examples, ASIC outlines scenarios involving exchange tokens, yield-bearing stablecoins, and tokenized assets like concert tickets. 

The draft guidance suggests that classification depends on “the rights, benefits, expectations, and product features inherent to, and offered together with the token.” 

ASIC is offering temporary relief from penalties for businesses working on getting licensed as long as they meet certain requirements, which includes joining the Australian Financial Complaints Authority.

ASIC is also considering further examples for wrapped tokens and stablecoins, acknowledging their complex regulatory implications.

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Author: Sebastian Sinclair