New ASIC clarifications on crypto-assets mean that even “safe” cryptocurrencies may be classified as financial products. Wallet providers, exchanges, intermediaries and many other crypto-related businesses may require an Australian Financial Services Licence to handle financial products. The laws apply to any business with Australian customers, even if the business is based overseas.
https://www.finder.com.au/new-asic-cryptocurrency-guidance-what-you-need-to-know
