Who must comply with Crypto Asset Platform licensing (Treasury reforms 2024-2025)?

Treasury scoping CASP regime for digital asset platforms.

The Corporations Amendment (Digital Assets Framework) Act 2026 (No. 38, 2026) received Royal Assent on 8 April 2026 and commences on 8 April 2027. It amends the Corporations Act 2001 to bring two new kinds of financial product into the financial services regime: digital asset platforms, where an operator possesses digital tokens for or on behalf of clients, and tokenised custody platforms, where an operator holds non-money assets and creates a digital token for each that confers a right to redeem it. Providing financial services relating to issuing such a platform will require an Australian financial services licence authorising that service. Licensed platforms must have platform rules covering client eligibility, client obligations and the settlement method, with disclosure of settlement, liquidity and counterparty risk, and ASIC may set asset-holding standards for safeguarding, record-keeping and reconciliation. The Minister may declare platforms to be, or not to be, financial markets or clearing and settlement facilities, and public digital token infrastructure is excluded from the financial product definitions.

Applies when the business has crypto / DCE activity.

How the regulator frames it: Operators (issuers) of digital asset platforms and tokenised custody platforms, such as crypto custody and exchange businesses that hold tokens for clients, and anyone providing financial services relating to those platforms, including existing AFS licensees whose current authorisations do not cover these services.

What triggers it: Providing a financial service relating to a digital asset platform or tokenised custody platform on or after 8 April 2027.

Jurisdiction: Commonwealth law, so the test is the same in every state and territory.

Outcome across the 35 industries Rules Mate maps (35 of 35: no).

The answer is the same in every industry: no. Industry does not change who must comply.

Structure does not change the answer across all industries: for every structure the answer is "no".

Size does not change the answer across all industries: at every size band the answer is "no".

Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:

• Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires crypto / DCE activity.

Starting from a small or large professional services company that does not otherwise meet the test, each of these single facts changes the engine's answer:

• The business deals in crypto-assets or runs a digital currency exchange: it then applies (deals in crypto / digital currency exchange).

When due

From commencement on 8 April 2027 there is a 6-month transition period. A provider without the right AFSL authorisation can continue during that period, and beyond it until ASIC decides, if it applies to ASIC for a new licence or a variation within the 6 months; if it does not apply, the new requirements apply immediately after the transition period ends.

Frequency

Ongoing

Evidence to keep

AFSL application or variation request lodged with ASIC within the transition period, and the licence conditions granted; platform rules setting eligibility criteria, client obligations and the settlement method, with the required client disclosures; records of possession, safeguarding, reconciliation and reporting of underlying assets to meet any ASIC asset-holding standards; client and token-holder registers.

Status

Upcoming (not yet in force)

Priority

High

Maximum penalty: After the transition period, providing these financial services without an AFSL authorising them falls under the Corporations Act 2001 licensing requirements and their penalties; penalty amounts were not restated here.

Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.

If this obligation applies to you, so do these 2: the engine uses the same rule for each.

• Crypto-Asset Reporting Framework (CARF) — implementation 2026-2027
• Crypto Asset Secondary Service Provider (CASSPr) licensing reforms

• Stablecoin payments licensing — Treasury reforms (in scoping): Treasury reforms scoping payment stablecoin licensing under PSP regime.

Rules Mate tracks 4 published obligations tagged "crypto", 0 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated high priority, and is an ongoing duty.

Regulated by Australian Securities and Investments Commission.

ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).

• Australian Securities and Investments Commission

Free tools that help with this obligation:

• Compliance calendar builder