Australia Tightens Regulation of Crypto Assets with Stablecoins, Wrapped Tokens Under New Rules

Australia is taking a decisive step towards comprehensive digital asset regulation. The country’s financial watchdog, the Australian Securities and Investments Commission (ASIC), now considers stablecoins, wrapped tokens, tokenized securities, and digital wallets to fall under its definition of financial products. This means companies offering these assets must obtain an Australian Financial Services (AFS) license to operate legally.