ASIC is seeking public feedback on proposed changes to its crypto regulation framework. The updates aim to clarify the classification of digital assets under current law, including exchange tokens, NFTs, memecoins, and tokenized assets. ASIC is also considering adding stablecoins and wrapped tokens to the list of classified financial products. The regulator is reviewing the Australian Financial Services licensing system and may introduce new requirements for digital asset businesses. Feedback is due by Feb. 28, 2025, with the final framework expected to be released in mid-2025.ASIC Commissioner Alan Kirkland emphasized the importance of fostering financial innovation while protecting consumers. The commission aims to enhance consumer confidence, market integrity, and healthy competition through well-regulated financial systems. The request for feedback follows an update to Information Sheet 225, providing guidance on offering digital asset products and services.
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