Digital assets considered financial products and subject to law: Aussie regulator

Providers of such products are required to have a financial services licence.

Digital assets such as stablecoins, wrapped tokens, tokenised securities, and digital asset wallets are considered financial products and are subject to existing laws, according to the Australian Securities and Investment Commissions (ASIC).

On a 29 October 2025 statement, ASIC clarified that existing laws apply to digital assets. It will remain so under the government’s proposed law reform.

This means that many providers of these products require a financial services licence, said ASIC commissioner Alan Kirkland.

“We recognise that firms will need time to consider the updated guidance and apply for licences, so ASIC has granted a sector-wide no-action position until 30 June 2026,” Kirkland said, adding that they have also proposed providing relief for stablecoin and wrapped token distributors to smooth the transition to proposed law reform.

ASIC has made an in-principle decision to grant proposed regulatory relief for distributors of certain stablecoins and wrapped tokens, and certain relief for custodians of digital assets that are financial products. Feedback for this is open until 12 November 2025.