According to ChainCatcher, Australia’s financial regulator is seeking feedback on an update to its digital asset guidelines, aimed at clarifying how the Corporations Act 2001 applies to digital assets.
The Australian Securities and Investments Commission (ASIC) cited 13 real-world cases to illustrate how the current definition of financial products applies to digital assets and related products.
The updated guidance will detail how businesses can obtain an Australian financial services (AFS) licence and outline the criteria for assessing licence applications, with an emphasis on compliance with financial services laws.