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Entities offering these types of products must hold a financial services authorization.

Digital currencies like stablecoins, wrapped tokens, tokenized securities, and digital asset wallets are classified as financial instruments and fall under current regulations, according to theAustralian Securities and Investments Commission (ASIC).

On a statement issued on 29 October 2025, ASIC stated that current regulations are applicable to digital assets. This will continue under the proposed legislative changes by the government.

This indicates that numerous suppliers of these items need a financial services license, according to ASIC commissioner Alan Kirkland.

“We acknowledge that companies will require time to review the revised guidelines and submit applications for licenses, so ASIC has implemented a sector-wide non-action position until 30 June 2026,” Kirkland stated, noting that they have also suggested offering relief to stablecoin and wrapped token distributors to ease the shift towards upcoming legal changes.

ASIC has taken a preliminary decision to provide regulatory relief to distributors of specific stablecoins and wrapped tokens, as well as some relief for custodians handling digital assets that qualify as financial products. Comments on this are welcome until 12 November 2025.