Australian regulator updates crypto guidelines to broaden scope

The Australian Securities and Investments Commission (ASIC) has released a revised version of its financial guidelines for cryptocurrencies, known as Info Sheet 225, Decrypt reported. The update expands the regulatory scope by using the term "digital assets" instead of crypto assets, noting that most digital assets will likely need to comply with the Australian Financial Services (AFS) license requirements. The revised document provides 18 examples of regulatory applications, including strengthened custody obligations, the application of local laws to overseas platforms, and specific guidance for ETP issuers. However, the guidelines do not explicitly state whether DeFi platforms must adhere to licensing requirements. ASIC explained that the guidelines do not constitute new law but are intended to provide clarity for crypto platforms and stablecoin issuers before a formal licensing regime is introduced.