Australia has updated its rules for cryptocurrencies: stablecoins are recognized as financial products

Key points:

• ASIC has required companies working with cryptocurrencies to obtain financial services licenses by June 30, 2026.
• The category of financial products includes stablecoins, wrapped tokens, tokenized securities, and custodial services.
• The guidance introduces new storage standards and even applies to offshore and decentralized platforms working with Australian customers.

The Australian Securities and Investments Commission (ASIC) has released the final version of its digital asset guidance. The document specifies which crypto products are considered financial and subject to regulation.

The regulator emphasized that stablecoins, tokenized assets, wrapped tokens, and DeFi platforms with yield elements are now subject to the Corporations Act.

What has changed in the ASIC guidance

The updated document introduces new standards for custodial storage, risk disclosure requirements, and contains 18 examples of digital asset classification.

The regulator explained that the rules apply not only to local platforms, but also to offshore and decentralized platforms if they work with Australian clients.

Companies offering stablecoins, tokenized bonds, or staking are required to obtain an Australian Financial Services (AFS) license by June 30, 2026. Stablecoin distributors and custodial platforms have been granted a temporary exemption from licensing to allow time for adaptation.

ASIC has also introduced minimum capital requirements of up to $10 million for custodial companies and set thresholds for protecting customer funds.

The update to the guidance coincided with the Australian Treasury’s preparation of a bill on digital asset platforms. It will propose a single licensing regime for crypto exchanges, custodians, and stablecoin issuers.

In September, ASIC already allowed licensed intermediaries to distribute stablecoins without separate permission, provided they comply with transparency standards.

Bitcoin and gaming NFTs are not subject to the new rules, as they are not considered financial products. However, staking programs and yield tokens will be regulated as investment schemes.