Australia Pre-Empts Crypto Law Reform with New Licensing Rules for DeFi

Ahead of anticipated legislative reforms, Australia‘s financial regulator is taking decisive action.

The Australian Securities and Investments Commission (ASIC) has released guidance that places core decentralized finance (DeFi) elements—including stablecoins, wrapped tokens, and wallets—squarely within the existing financial services licensing regime.

Responding to industry feedback, ASIC is also proposing specific relief for distributors and custodians, while granting a sector-wide adaptation period until July 2026 for companies to legalize their operations.