AFCA welcomes new crypto workload
The Australian Financial Complaints Authority (AFCA) has welcomed the pending increase in its workload flowing from the Australian Securities and Investments Commission (ASIC) requiring crypto currency firms to become AFCA members.
Under the ASIC guidance, announced on Wednesday, firms providing services related to digital assets that are financial products, including wrapped tokens, stablecoins, tokenised securities and digital asset wallets, are now required to become a member of AFCA and lodge an AFSL application by 30 June 2026 in line with Information Sheet 225.
Commenting on the situation, AFCA Lead Ombudsman for Investments and Advice, Shail Singh said the updated…
