The Australian Securities and Investments Commission unveiled an 18-month roadmap to integrate digital asset platforms and tokenised custody platforms into the national financial services licensing framework.
The regulatory surge follows the recent passage of the Corporations Amendment (Digital Assets Framework) Act 2026, a landmark piece of legislation set to commence on April 9, 2027.
Under the new regime, ASIC is tasked with the comprehensive supervision of digital providers, ensuring they adhere to the rigorous standards expected of traditional financial institutions while fostering innovation within the burgeoning sector.
ASIC plans to host targeted industry roundtables in the second quarter of this year, followed by the release of a high-level consultation paper in late 2024.
By the March quarter of 2027, the regulator will publish definitive regulatory guides clarifying specific licensing requirements.
The application window is scheduled to open in April 2027, with a final transition deadline set for October 2027.
ASIC’s consultation will specifically scrutinise transaction settlement standards, asset custody protocols, and financial liquidity buffers.
However, the path to reform remains contested. While the government aims to "firm up" the country’s reputation as a secure digital hub, industry stakeholders have expressed concerns regarding the regulatory burden.
Pushback has emerged over proposals to place stablecoin issuers under the "heavy-handed" Financial Accountability Regime, with critics arguing that over-regulation could stifle growth.