Australia: Opened Consultation ASIC updates to digital asset guidance

On 4 December 2024, the Australian Securities and Investments Commission (ASIC) opened a public consultation through Consultation Paper 381 (CP 381) which proposes updates to Information Sheet 225 (INFO 225) on Crypto Assets: Financial Products and Services. The Consultation remains open until 28 February 2025. The updates would clarify the application of current financial product definitions to digital assets and related products, incorporating 13 practical examples. Stakeholders are invited to provide feedback on the proposed updates, practical licensing issues, and the potential for regulatory relief. ASIC plans to publish the final version of the updated guidance in mid-2025.