On 26 November 2025, the Corporations Amendment (Digital Assets Framework) Bill 2025 (the Bill) was introduced.

The Bill is intended to modernise Australia’s financial regulatory framework for digital assets. The Bill introduces amendments to the Corporations Act 2001 and the ASIC Act 2001 that:

  • defines the core concepts of ‘digital token’, ‘digital asset platform’ and ’tokenised custody platform;’
  • establishes licensing, disclosure and conduct obligations for issuers and operators of these platforms; and
  • provides ASIC and the Minister with powers to regulate these platforms; and
  • introduces targeted exemptions and transitional arrangements.

Digital asset platforms and tokenised custody platforms

The Bill introduces into the Corporations Act 2001 (Cth) two new types of financial products: digital asset platforms and tokenised custody platforms. This is intended to ensure that businesses holding and dealing in client digital assets are subject to the same consumer protections and licensing requirements that apply across the financial system. These include prohibitions on misleading and deceptive conduct and unfair contract terms, design and distribution obligations, and supervision and enforcement by the Australian Securities and Investments Commission (ASIC).

Services in relation to digital asset or tokenised custody platforms, such as advising on, dealing in, or arranging for others to deal in them, will be treated as financial services.

Operators

The Bill also imposes obligations on operators of digital asset platforms and tokenised custody platforms. In particular, operators:

  • subject to exemptions, will need to hold an AFS licence authorising them to perform the relevant financial services; and 
  •  will need to provide a platform guide to clients, explaining how the service works, including custody and transfer arrangements, fees and charges, key risks, and client rights..

Exemptions

The Bill also includes  exemptions from the licensing obligation including in relation to:

  • operators with less than $10 million in transaction value across a rolling 12-month period; and 
  •  businesses that deal in or advise on platforms only incidental to their main, non-financial activities.

Timing

The Bill commences the day after the end of a period of 12 months beginning on the day after Royal Assent.

There will be an 18-month transition period. This will help businesses and ASIC get familiar with navigating the reforms in practice.