The new guidelines will give investors improved protections, while providing firms with greater certainty to operate and innovate.
Australian Securities and Investments Commission (Asic), an independent Australian government body, has updated existing laws applicable to digital assets. The updated guidance will give investors improved protections As per the updated guidance, digital asset products that will be considered as financial products by ASIC will now include stablecoins, wrapped tokens, tokenised securities and digital asset wallets. Alan Kirkland, commissioner at Asic, said that ‘Asic’s guid