ASIC unveils new digital assets reform roadmap
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The news: ASIC has released its roadmap for the implementation of digital assets law reform as it looks to bring platforms and tokenised custody platforms (TCP) under the financial services licensing regime.
The new regime tasks the regulator with licensing and supervising these platforms, with ASIC laying out its 18-month roadmap on Monday.
This year ASIC plans to hold industry roundtables in Q2 and publish a consultation paper in Q4. In the March quarter of 2027, it will release regulatory guides on digital asset platforms and TCPs indicating who will need a licence, opening up licensing applications from April and engaging with industry ahead of the transition window ending in October 2027.
In consulting with industry, ASIC said it would field views on the standards that would apply to transactions and settlements, how assets are held, and financial liquidity requirements as well as licensing arrangements.
The context: The Corporations Amendment (Digital Assets Framework) Act 2026 passed Parliament earlier this month and will commence on 9 April 2027 as the government looks to firm up the country’s licensing regime.
It comes as the industry pushes back on the proposal stablecoin issuers be regulated under the country’s “heavy-handed” financial accountability regime.
The source: ASIC
