ASIC seeks input on digital asset licensing rules
ASIC has opened a public consultation on whether operators of digital-asset platforms must obtain an Australian Financial Services Licence (AFSL). The move is intended to clarify the regulatory expectations for firms that facilitate the trading, custody, or settlement of digital tokens, and it could influence the overall direction of digital-asset oversight in Australia.
The regulator’s draft guidance sets out a fresh framework that will apply to both newly-established platforms and those that already hold an AFSL. According to the proposal, the new rules are scheduled to become enforceable on 8 April 2027, giving firms several years to adjust their compliance programmes and align internal processes with the forthcoming obligations.
Under the proposed regime, a company that wishes to run a digital-asset exchange or a tokenised-custody service will be required to either apply for a fresh AFSL or amend an existing licence to incorporate the relevant authorisations. In addition, the guidance mandates the publication of clear customer disclosure documents, the establishment of platform-specific rules of conduct, and the maintenance of net-tangible-asset standards that are designed to protect client holdings.
The scope of the consultation is broad. It encompasses new entrants that are building digital-asset platforms from the ground up, established entities that already possess an AFSL, payments providers that facilitate transactions involving digital tokens, and any business that engages in the handling, transfer, or storage of digital assets. By drawing the net wide, the regulator aims to capture the full range of activities that could affect market integrity.
In a parallel effort, the regulator also intends to simplify the licensing pathway for firms that already hold an AFSL and wish to add digital-asset or tokenised-custody authorisations to their existing permissions. This streamlined route is expected to reduce administrative burdens while ensuring that the same protective standards apply across all authorised activities.
Policy details
AUDC, the issuer behind the Australian Digital Dollar stablecoin (AUDD), welcomed the consultation as another step toward a trusted, end-to-end digital-money ecosystem.
“For stablecoin issuers, the significance extends beyond the platforms the proposed requirements directly cover,” the firm said. “Stablecoins depend on a broader ecosystem of exchanges, custodians, payment providers and financial institutions to make digital money accessible and useful. The integrity of that infrastructure matters as much as the issuer’s regulatory standing.”
Stakeholders have been invited to submit written comments, data submissions, or other evidence during the consultation window. The regulator has indicated that it will review all feedback before finalising the rulebook, and that any amendments will be published in a subsequent notice.
