ASIC consults on new digital asset laws

ASIC is seeking industry feedback on its draft guidance for the upcoming laws around digital assets and operators in the broader digital economy.

The new laws will come into effect on 8 April 2027.

Consultation Paper 392, Digital asset law reform implementation: Proposed standards and guidance (CP 392) outlines ASIC's proposed approach to standards and regulatory guidance about complying with the Corporations Amendment (Digital Assets Framework) Act 2026.

The consultation includes draft guidance on instructions to comply with the new laws for operators of digital asset platforms (DAPs) and Tokenised Custody Platforms (TCPs), as well as existing Australian financial services licence (AFSL) holders and entities dealing with digital assets.

Under the proposed guidance, firms will need to apply for an AFSL, provide customer disclosure documents and platform rules, and comply with asset-holding standards, transactional and settlement standards, and net tangible asset requirements, where relevant, ASIC said.

In developing the proposal, ASIC engaged with industry and will continue to directly liaise with stakeholders through the consultation period.

Additionally, the regulator is also proposing to streamline licensing processes for existing AFSLs and those who applied for an authorisation in response to Information Sheet 225, Digital assets: Financial products and services (INFO 225) adding DAP or TCP authorisations, to help with a smooth transition to the new regime.

Commenting, ASIC commissioner Alan Kirkland said the proposed guidance and standards recognised the rapid evolution of global markets.

"Our proposed guidance and standards acknowledge the increasing role of digital assets and tokenisation, including in traditional parts of the financial system," Kirkland said.

"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. Bringing digital asset platforms and tokenised custody platforms into the financial services regulatory framework means consumers can have greater confidence when trading digital assets.

"ASIC's approach to implementation is designed to balance facilitation of innovation, investment and growth with maintaining the protections that Australians expect."

The consultation is being developed by government in parallel to this process and is intended to enable the industry to see the future approach.

The consultation is open until 27 November 2026.