Australia Moves to Regulate Stablecoins as Financial Products
Australia's securities regulator has taken a decisive step toward bringing stablecoins and related crypto assets under formal financial oversight. The Australian Securities and Investments Commission (ASIC) now classifies stablecoins, wrapped tokens, tokenized securities, and digital asset wallets as regulated financial products under existing law.
Service providers handling these assets must obtain Australian Financial Services licenses, granting consumers full legal protections while enabling ASIC to crack down on harmful practices. The regulator has granted an eight-month transition period, with its no-action position remaining effective until June 30, 2026.
"Distributed ledger technology and tokenization are reshaping global finance," said ASIC Commissioner Alan Kirkland. The updated guidance provides regulatory clarity that could encourage responsible innovation while maintaining market integrity.
