The Australian Securities and Investments Commission (ASIC) has released revised guidance on the classification of digital assets as financial products. The guidance includes 13 worked examples to clarify the qualification of assets such as stablecoins and tokenized assets. ASIC is offering temporary relief to businesses seeking licenses, and further examples for wrapped tokens and stablecoins are being considered. The updates have been welcomed by industry leaders, although concerns have been raised about the potential impact on access to key tools and the far-reaching implications of proposed regulations. The feedback on the guidance is due by February 28, 2025.



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