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ASIC applies a functional, technology-neutral test under the Corporations Act 2001 rather than bespoke crypto categories: whether a digital asset is a 'financial product' turns on its substantive features. Updated INFO 225 (2025/2026) explicitly treats many stablecoins, wrapped tokens, tokenised securities and digital asset wallets as financial products, while noting that classification of DeFi arrangements and many utility-style tokens depends on individual facts and is not addressed definitively by the guidance.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (4)
- T4 · The BlockThe Block — ASIC considers products such as stablecoins, wrapped tokens, tokenized securities and digital asset wallets to be financial products requiring a local financial services licence to offer.retrieved M5bindingin force
- T1 · ASICASIC — INFO 225 explicitly does not comment on when a person in a decentralised finance (DeFi) arrangement may require a licence, or what constitutes 'true DeFi', leaving classification dependent on the individual facts of each arrangement.retrieved M4non-binding
- T1 · ASICASIC — A digital asset that confers rights and benefits meeting the three statutory elements of a managed investment scheme is likely to be treated by ASIC as an interest in a managed investment scheme regardless of whether it is marketed as an investment.retrieved M4bindingin force
- T1 · ASICASIC — INFO 225 adopts a functional and technology-neutral approach and explicitly rejects the notion that digital assets constitute a discrete asset class, meaning many utility-style tokens are not automatically classified as financial products absent investment-like features.retrieved M3non-binding