🇦🇺 Australia’s ASIC Drops Major Crypto Regulation Update — Industry Braces for Big Changes
Australia’s regulators have finally delivered clarity — and a new wave of pressure — for the nation’s crypto industry.
On Wednesday, the Australian Securities and Investments Commission (ASIC) updated its Info Sheet 225, announcing that any firm offering crypto services classified as financial products must apply for an Australian Financial Services License (AFSL) and register with the Australian Financial Complaints Authority (AFCA) by June 30.
✅ Bitcoin Isn’t a Financial Product — For Now
Crypto law expert John Bassilios of Hall & Wilcox says Bitcoin, NFTs used in gaming, and tokenized event tickets are not expected to fall under the financial product category.
“If an exchange only deals with Bitcoin, they won’t need a license,” Bassilios explained.
But the picture changes dramatically for other digital assets.
Also Read : Evernorth Holdings Lists On Nasdaq To Fasten XRP Adoption
⚠️ Stablecoins and Tokenized Assets Face Stricter Regulation
According to ASIC, the following will likely be treated as regulated financial products:
- Stablecoins
- Wrapped tokens
- Tokenized securities
- Staking services with lockups
- Digital asset custody wallets
- Tokenized real estate or bonds
ASIC says it will offer transitional support to some providers — but compliance will still demand quick action.
💥 “Operational Pressure Is About to Hit the Industry”
Steve Vallas, CEO of Blockchain APAC, says while the crypto regulation brings welcome clarity, execution won’t be easy.
He warns of structural challenges including:
- Limited local Web3 regulatory expertise
- Crypto platforms struggling to secure banking services
- Insurance coverage gaps
Without solutions, regulatory compliance becomes a logistical nightmare, he cautioned.
⏳ Crypto Businesses Finally Know the Rules — But Time Is Short
Amy-Rose Goodey, CEO of the Digital Economy Council of Australia, says the guidance was “desperately needed” and provides long-awaited transparency around ASIC’s stance.
But with hundreds of licensing applications expected at once — she fears ASIC could become overwhelmed, risking delays that may leave companies non-compliant despite best efforts.
🚀 A High-Stakes Transition for Australia’s Digital Asset Sector
Australia is now moving into a regulatory transition period, as companies re-evaluate business models and prepare license strategies.
The Albanese government is also advancing legislation to place crypto exchanges under the same framework as traditional finance — signaling a permanent shift toward tighter oversight.
