According to Coinotag, the Australian Securities and Investments Commission (ASIC) has classified stablecoins, wrapped tokens, tokenized securities, and digital wallets as financial products, requiring firms to obtain an Australian Financial Services license. The move, announced on October 29, 2025, includes a transitional relief period until June 30, 2026, allowing crypto firms time to comply without immediate penalties. Foreign and decentralized platforms targeting Australian users must also adhere to the new rules, with custody requirements mandating at least $10 million in net assets for asset handlers.
ASIC Classifies Stablecoins as Financial Products, Grants Compliance Relief Until 2026
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