đŠđș ASIC Tightens Rules on Digital Assets
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The Australian Securities and Investments Commission (ASIC) has updated its guidance, expanding financial laws to cover more digital asset businesses.
đč âCrypto assetsâ are now termed âdigital assets,â including tokenization and virtual assets.
đč Yield tokens, staking programs, and stablecoins may now require an AFS License.
đč The rules apply to offshore and decentralized platforms serving Australian users.
đč New custody standards require up to AUD 10M in net tangible assets.
A strong move by ASIC to boost transparency and investor protection in Australiaâs crypto market. đŒâïž