The Australian Securities and Investments Commission (ASIC) has introduced a consultation paper titled 'Consultation Paper 381: Updating INFO 225 Digital Asset Guidance' (CP 381). This draft is intended to provide clearer legal guidance regarding digital assets. The updated version incorporates 13 practical cases that tackle various facets, including the definition of digital asset financial products, licensing considerations related to wrapped tokens and stablecoins, as well as transitional arrangements. ASIC underscores its dedication to safeguarding consumer rights through comprehensive guidance, effective licensing management, and stringent enforcement measures.

Stakeholders are encouraged to submit their feedback regarding the proposed guidelines until February 28, 2025. The finalized version of this guidance document is anticipated to be released by mid-2025. This initiative illustrates ASIC's continuous efforts to adapt to the dynamic digital asset landscape and to ensure that robust regulatory frameworks are established to protect all market participants..