The Australian Securities and Investments Commission (ASIC) has opened consultation on implementing new digital asset laws.
From 8 April 2027, the laws will bring digital asset platforms (DAPs) and tokenised custody platforms (TCPs) into financial services regulation.
Consultation Paper 392 sets out the proposed approach under the Corporations Amendment (Digital Assets Framework) Act 2026.
In particular, it includes draft compliance guidance, proposed standards for asset-holding, trading and settlement, and proposed financial requirements for licensees.
The guidance applies to DAP and TCP operators and firms offering financial services for these products.
It also covers existing financial services licensees, market participants, payments providers and other businesses using or dealing with digital assets.
Under the proposals, firms will need to apply for or vary an Australian financial services (AFS) licence.
They must also provide customer disclosure documents and platform rules.
Where relevant, they must meet asset-holding standards, transactional and settlement standards, and net tangible asset requirements.
To support the transition, ASIC is proposing a streamlined licensing process for existing AFS licensees adding DAP or TCP authorisations.
Firms that applied for authorisation in response to Information Sheet 225 would also qualify.
“Our approach is based on the principle of ‘same activity, same risk, same regulatory outcome’ to align Australia with the approach of comparable overseas jurisdictions,”
said ASIC Commissioner Alan Kirkland.
ASIC engaged with industry early and will continue to meet stakeholders through events and targeted roundtables during the consultation.
Meanwhile, the package refers to parallel regulatory design work by the Government, aimed at giving industry a complete picture of the future approach.
Submissions close at 5pm AEDT on 27 November 2026, with a user guide available to assist stakeholders.
Featured image: Edited by Fintech News Australia, based on image by Md Abdullah2024 via Magnific.
