Australia’s ASIC explores stablecoins, wrapped tokens in new crypto framework
The Australian Securities and Investments Commission (ASIC) is inviting public feedback on proposed changes to its crypto regulation framework, as outlined in a Dec. 4 announcement.
According to the statement:
“ASIC’s position continues to be that many digital assets are financial products under the current law. [This feedback request] is aligned to and supportive of the Government’s broader work in relation to the proposed payment services reform and digital asset facility reforms.”
So, ASIC’s proposed updates aim to clarify the classification of digital assets under current law, providing practical examples of assets that qualify as financial products. These examples include exchange tokens, NFTs, memecoins, and tokenized…
