Australian securities watchdog ASIC has provided better insight into which cryptocurrency assets are considered legitimate by the regulatory authority.
The official media release says that stablecoins, wrapped tokens, tokenized securities, and digital asset wallets are now deemed financial products as part of the update.
This gives investors insight into what crypto-assets are considered legitimate by Australian authorities—and gives relief to firms who do provide these assets as the nation’s capital transitions to a new legislative regime, as per an AFR report.
ASIC Commissioner said in the official statement that distributed ledger technology and tokenization are re-shaping global finance and that the securities authority’s guidance provides the clarity that firms have been calling for to innovate in the country.
He also said that since these classes of digital assets are considered financial products, companies that provide them will have to have a financial services license.
“We recognise that firms will need time to consider the updated guidance and apply for licences, so ASIC has granted a sector-wide no-action position until 30 June 2026. ASIC also proposes to provide relief for stablecoin and wrapped token distributors to smooth the transition to proposed law reform,”
An IRCI (Independent Reserve Cryptocurrency Index) report in 2025—drawing on responses from 2,100 adult respondents—showed that in the country, 95% of Australians were aware of at least one cryptocurrency, 14% wanted to invest in cryptocurrency but couldn’t due to the economy, and 73% believed Bitcoin to be money.