The Australian Securities & Investments Commission has opened consultation on draft guidance and standards to implement the new financial services framework for digital asset platforms and tokenised custody platforms, which commences on April 8, 2027. The proposals apply to platform operators and other providers of services for these products, as well as existing Australian financial services licensees, market participants, payments providers and other businesses that use or deal with digital assets. They follow ASIC’s April 2026 implementation roadmap and apply the principle of “same activity, same risk, same regulatory outcome.” Affected firms would need to obtain or vary an Australian financial services licence, provide customer disclosures and platform rules, and meet relevant asset-holding, trading and settlement, and net tangible asset requirements. ASIC also proposes streamlined licensing for existing licensees and firms that previously applied for authorisation in response to Information Sheet 225, helping them add digital asset platform or tokenised custody platform authorisations. The regulator has recorded more than 140 applications from businesses seeking to provide digital asset-related financial services, including more than 110 submitted during the sector-wide no-action period that ended on Sept. 30, 2026.
Australian Securities & Investments Commission consults on standards and guidance for digital asset and tokenised custody platforms from April 2027
The Australian Securities & Investments Commission is consulting on licensing guidance and standards for digital asset and tokenised custody platforms ahead of the new framework’s commencement on April 8, 2027. The proposals cover licensing, customer disclosures, platform rules, asset holding, trading and settlement, and net tangible asset requirements, with streamlined processes proposed for certain existing licensees and earlier applicants.