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ARTICLE · 18 DECEMBER 2024

ASIC Consults On Updated Crypto Guidance – What's New?

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The Australian Securities and Investments Commission (ASIC) recently released proposed updates to Information Sheet 225 (INFO 225) and a corresponding consultation paper.

AustraliaTechnology
Daniel Knight
Daniel Knight
Simon Kiburg
Simon Kiburg
Ben Kneebush
Ben Kneebush

The Australian Securities and Investments Commission (ASIC) recently released proposed updates to Information Sheet 225 (INFO 225) and a corresponding consultation paper.

The draft updated INFO 225 represents a substantial expansion of the existing guidance for digital assets in Australia.

This includes financial product and services classifications, licensing, consumer law obligations and design and distribution obligations. If adopted in its current form, the updated guidance could lead to many additional businesses needing to obtain Australian Financial Services Licences (AFSL) and/or Australian Markets Licences (AML).

Financial Product Classifications

ASIC has significantly expanded its current guidance in relation to financial product classifications (e.g. interests in a managed investment scheme, securities, derivatives and non-cash payment facilities) and added guidance for 'facilities for making a financial investment.' As such, ASIC has clarified

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