ASIC publishes is roadmap for digital asset regulation. 

Background 

On 8 April 2026, the Corporations Amendment (Digital Assets Framework) Bill 2025 (Bill) received Royal Assent. The Bill amends the Corporations Act 2001 (Cth) (Corporations Act) to extend the Australian financial services licence (AFSL) framework to digital assets.

New products and obligations

The Bill introduces two new categories of financial products under the Corporations Act:

• Digital Asset Platforms (DAPs), being a facility where an operator holds digital tokens (underlying assets), either for themselves or on behalf of someone else.
• Tokenised Custody Platforms (TCPs), being a facility where an operator identifies and holds assets other than money, issuing a single digital token for each asset, which grants the holder the right to redeem or direct the delivery of that asset. 

Operators of these platforms will be required to hold an AFSL license and comply with the general obligations that apply to all AFSL holders. 

On 20 April 2026, ASIC released its 18-month roadmap for licensing, supervising, and enforcing the new regime with the roadmap providing early visibility on the topics ASIC expects to consult on and the timeline of events. 

How ASIC plans to roll out the regime

The roadmap is divided into three phases: 

• Engagement and early consultation (months 1–6): ASIC will convene stakeholder roundtables and establish an industry advisory group to begin consulting on regulatory guidance and operational standards to be formalised through legislative instruments. 
• Standards and guidance (months 6–12): ASIC expects to publish a new Regulatory Guide for DAPs and TCPs to clarify how the new regime operates and who will need a licence. ASIC also intends to finalise instruments prescribing asset-holding, transactional and settlement and financial standards.
• Licensing (months 12–18): DAP and TCP operators can lodge financial services licence applications, with regulatory relief available while applications are assessed. From month 18 onwards, the new regime will be fully implemented, with ASIC commencing ongoing supervision and enforcement. 

ASIC to consult on standards and regulatory guidance

The DAF Act contemplates ASIC developing specific standards for DAP and TCP operators, with three categories in focus: 

• Asset-holding standards (section 912BE) 
• Transactional and settlement standards (section 912BF) 
• Financial requirements – anticipated to include a cash needs (liquidity) requirement, a net tangible asset requirement and a periodic auditor review.

ASIC has indicated that new standards and guidance will be developed in line with its broader regulatory simplification work and will be principles-based. 

What’s next 

ASIC’s next steps include arranging stakeholder roundtables and discussion and developing a consultation package on standards and guidance.

The Digital Assets Framework will commence on 9 April 2027, and the transition period will end in October 2027.