Australia Enforces Stricter Rules on Crypto Firms, Reshaping Digital Finance Landscape

Australia has implemented significant regulatory changes impacting crypto companies operating within its borders. These new rules, enforced by the Australian Securities and Investments Commission (ASIC), introduce stricter compliance requirements for a wider range of digital assets. These regulations classify stablecoins, wrapped tokens, and digital asset wallets as financial products, requiring companies offering these services to obtain an Australian Financial Services License. This policy shift signifies a move toward integrating digital assets into mainstream finance.