ASIC Publishes 18-Month Implementation Roadmap for Digital Asset Platform Licensing, April 2026

On 20 April 2026, the Australian Securities and Investments Commission (ASIC) published its roadmap for implementing the Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act). The DAF Act received Royal Assent on 8 April 2026 and commences on 9 April 2027, providing an 18-month implementation period. Under the new regime, digital asset platforms (DAPs) and tokenised custody platforms (TCPs) will require an Australian Financial Services Licence (AFSL) from ASIC.

The DAF Act inserts provisions into the Corporations Act 2001 (Cth), including asset-holding standards (section 912BE) and transactional and settlement standards (section 912BF). ASIC will consult on and set standards under those sections, drawing on principles in Regulatory Guide 133 (Funds management and custodial services: Holding assets) for asset-holding and Regulatory Guide 166 (AFS licensing: Financial requirements) for financial requirements. The existing class no-action position under Information Sheet 225 (INFO 225) expires in June 2026; from that point, entities must comply with existing licensing requirements throughout the transition.

Operators of DAPs and TCPs — including custody-only platforms, broker-dealers, market-making platforms, and vertically integrated exchanges — must assess their current structures against the incoming AFSL obligations. Overseas entities serving Australian customers must determine whether their activities trigger the licensing requirement from April 2027. Firms that obtained a licence under INFO 225 recently may benefit from a streamlined licence variation process that ASIC has flagged as a potential transition measure.

ASIC's roadmap divides the 18-month transition into three phases: months 1–6 cover stakeholder roundtables and consultation packages on standards and guidance; months 6–12 will produce a new Regulatory Guide for DAPs and TCPs and set binding regulatory instruments; and months 12–18 open licence application windows, with firms permitted to operate under regulatory relief pending processing. Full supervision and enforcement begin from April 2027. Stakeholders may contact ASIC at fintech@asic.gov.au.

Our firm and our network of Australian regulatory partners advise on AFSL applications, digital asset licensing strategy, and asset-holding compliance for DAPs and TCPs, and welcome contact from platforms preparing for April 2027 authorisation. Topics we handle include: ASIC digital asset licensing, DAP/TCP structuring, AFS licence applications, crypto custody compliance, section 912BE asset-holding standards, and tokenised asset regulation.

Source: ASIC, "ASIC's roadmap for digital assets law reform implementation," News Item, 20 April 2026, https://www.asic.gov.au/about-asic/news-centre/news-items/asic-s-roadmap-for-digital-assets-law-reform-implementation/, confirmed 21 April 2026.

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