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BITS OF BLOCKS
BLOCKCHAIN, LAW AND REGULATION
Steven Pettigrove, Partner, Piper Alderman
Michael Bacina, Partner, NXT Law
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Tokenisation, tested: Australia drops Project Acacia report
The Reserve Bank of Australia (RBA) has announced the findings of Project Acacia, a collaborative research initiative between the RBA and the Digital Finance Cooperative Research Centre (DFCRC) that sought to explore the role of tokenised finance in Australia’s wholesale asset market. The final report provides a detailed and practical exploration of how tokenised finance could reshape wholesale markets in Australia. Drawing on 20 industry-led use cases, the report demonstra
May 284 min read


Some stablecoins are more equal than others: ASIC issues stablecoin relief
Following industry consultation in late 2025 , ASIC released a new regulatory instrument providing tailored licensing relief for certain stablecoins and wrapped tokens. ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867 ( Relief Instrument ) provides licensing and disclosure exemptions to distributors of eligible stablecoins and eligible wrapped tokens. ‘Eligible stablecoins’ must the satisfy the following core criteria, among others: the stablecoi
Feb 183 min read


ETF-initely a game changer? SEC clears the path for spot crypto ETFs
The US Securities and Exchange Commission (SEC) voted recently to approve proposed rule changes by three national securities exchanges, enabling them to adopt generic listing standards for new cryptocurrency and other spot commodity ETFs. This means exchanges can now list and trade Commodity-Based Trust Shares that meet these standards without needing to submit individual proposed rule changes to the Commission under Section 19(b) of the Securities Exchange Act . This appro
Nov 21, 20253 min read


UK regulator backs fund tokenisation plans
The UK Financial Conduct Authority ( FCA ) has released a huge consultation paper CP25/28 titled 'Progressing Fund Tokenisation' which outlines new rules for fund tokenisation and direct-to-fund dealing. The paper expands on the 2023 Blueprint published by the Investment Association's Technology Working Group, which introduced a phased roadmap for fund tokenisation. The FCA has clearly put a huge amount of work into this document, which defines tokenisation as a method of re
Oct 29, 20254 min read
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