ASIC’s implementation roadmap for the new digital assets framework
ASIC has just released its implementation roadmap for the recently passed Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act), marking a new era of digital asset regulation in Australia.
For platform operators, this means a robust licensing regime and a new regulatory landscape. We outlines the key changes, significant dates, and practical guidance to help you navigate the transition.
Need to know
The DAF Act will commence on 9 April 2027.
Digital asset platforms (DAPs) and tokenised custody platforms (TCPs) will be regulated as new categories of financial products, and operators will be required to hold an Australian financial services (AFS) licence.
- From April 2027 to October 2027, operators can lodge AFS licence applications (or variations) and continue operating their platforms under regulatory relief while ASIC reviews the application.
- The new digital assets regulatory regime is expected to be fully implemented from October 2027.
- Market participants should begin assessing whether their activities fall within the new licensing perimeter and prepare for the AFS licensing process.
Background
On 20 April 2026, ASIC released its 18-month implementation roadmap in preparation for the commencement of the Corporations Amendment (Digital Assets Framework) Act 2026 and to outline its approach to issuing new standards and regulatory guidance as part of the implementation process.
For further information about the substantive provisions of the DAF Act and how it will affect the regulation of digital assets, please refer to our previous article, Digital assets reform passes: 18-month licensing window opens for platform operators.
ASIC’s 18-month implementation roadmap
We have summarised ASIC’s implementation roadmap below:
| Month | Intended roadmap |
|---|---|
Months 1-6 (approximately April 2026-October 2026)
|
|
| Months 6-12 (approximately October 2026-April 2027) |
|
| Months 12-18 (approximately April 2027-October 2027) |
|
| Month 18 onwards (approximately from October 2027) |
|
ASIC to consult on standards and guidance
As part of the implementation of the DAF Act, and set out in the summary table above, ASIC intends to set certain operational standards as contemplated by the DAF Act. ASIC has indicated that consultation will cover the following areas:
asset-holding standards;
transactional and settlement standards; and
financial requirements, similar to how these are already implemented in Regulatory Guide 166 AFS licensing: Financial requirements.
ASIC also intends to produce some regulatory guidance about the DAF Act, announcing its intention to produce navigation aids (such as an index or catalogue) to assist industry with existing guidance.
During the transition period, ASIC expects to consult on a range of topics, including a potential streamlining of the AFS licence variation process for certain cohorts of firms.
Next steps
ASIC’s implementation roadmap provides clarity on the timeline for the implementation of the DAF Act. Platform operators should now consider how the new framework applies to them and start assessing their licensing and compliance requirements.
To discuss what these reforms mean for you, or to seek assistance with your AFS licence application or variation, please reach out to John Bassilios or a member of our financial services team to learn more.
This article was prepared with the assistance of Caroline Lei, Law Graduate.
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