Australia's financial regulatory agency recently released a document seeking public feedback on its update to the digital asset guidelines📄. This update aims to clarify how the Corporations Act 2001 applies to digital assets and provide guidance for related financial services. The Australian Securities and Investments Commission (ASIC) illustrates the application of the current definition of financial products in the digital asset domain through 13 practical cases.

The new guidelines will detail how businesses can obtain an Australian Financial Services (AFS) license to handle digital assets that are considered financial products. At the same time, ASIC emphasizes the necessity for applicants to comply with financial services laws🔍. This initiative may impact the operational methods of cryptocurrency exchanges and other related businesses.