CoinVoice recently learned that Australian financial regulators are seeking feedback on updates to their digital assets guidelines. These changes aim to clarify how the Corporations Act 2001 applies to digital assets and provide guidance for entities offering relevant financial services.
The Australian Securities and Investments Commission (ASIC) listed 13 practical examples in a document to illustrate how the current definition of financial products applies to digital assets and related products.
The updated guidelines will detail how businesses can obtain an Australian Financial Services (AFS) license to deal with digital assets classified as financial products. It also outlines the standards used by the Australian Securities and Investments Commission to assess license applications, emphasizing compliance with financial services laws.[Original link]