Australian financial regulators seek feedback on digital asset regulation updates

ChainCatcher news, the Australian financial regulator is seeking feedback on updates to its digital asset guidelines. These changes aim to clarify how the Corporations Act 2001 applies to digital assets and provide guidance for entities offering related financial services.

The Australian Securities and Investments Commission (ASIC) listed 13 practical examples in a document to illustrate how the current definition of financial products applies to digital assets and related products.

The updated guidelines will detail how businesses can obtain an Australian Financial Services (AFS) license to deal with digital assets classified as financial products. It will also outline the criteria used by the Australian Securities and Investments Commission to assess license applications, emphasizing the need to comply with financial services laws.