Australia opens consultations for licensing digital asset platforms and tokenized custody
The Australian Securities and Investments Commission launched a consultation on new rules for digital asset platforms and tokenized custody platforms, with the new framework taking effect on April 8, 2027.
The Australian Securities and Investments Commission (ASIC) has initiated consultations on guidelines and standards for implementing new laws for digital asset platforms and tokenized custody platforms, which will come into force on April 8, 2027, under the Corporations Amendment (Digital Assets Framework) Act 2026.
Consultation Paper 392 included guidance on how to comply with the new laws, proposed standards for custody, trading, and settlement activities, and proposed financial requirements for license holders.
ASIC Commissioner Alan Kirkland stated that the proposed guidelines and standards recognize the rapid evolution of global markets and the growing role of digital assets and "tokenization," adding that the approach is based on the principle of "same activity, same risk, same regulatory outcome" to align Australia with comparable markets.
Under the proposals, operators will need to apply for or vary an Australian Financial Services Licence, provide disclosure documents and platform rules, and adhere to custody, trading, and settlement standards as well as net tangible asset requirements. The consultation remains open until November 27, 2026.
What do these terms mean?
Digital Asset Platform: A platform that holds digital assets on behalf of clients and provides related services.
Tokenized Custody: An arrangement in which real-world assets held for clients are recorded in the form of digital tokens.
Australian Financial Services Licence: A license granted by ASIC to conduct financial services business in Australia.
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