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ASIC Confirms Stablecoins and Tokenised Assets Fall Under Financial Law
The Australian Securities and Investments Commission has clarified how existing financial laws apply to digital assets. The update aims to give investors more protection and provide firms with clearer rules ahead of future law reforms. The clarification follows earlier proposals for full licensing and stronger consumer protections for crypto firms in Australia. ASIC’s new guidance confirms that stablecoins, wrapped tokens, tokenised securities, and digital asset wallets are considered financial products under current law. This means that many providers offering these products will need to hold a financial services ... (full story)