Overview

• Draft legislation creates two Corporations Act categories — digital asset platforms and tokenized custody platforms — and brings providers under Australian Financial Services License oversight.
• Operators must meet conduct, custody, settlement, cybersecurity, asset segregation, disclosure, and dispute resolution standards aimed at strengthening consumer protection.
• Targeted provisions address wrapped tokens, public token infrastructure, and staking, while decentralized tokens not run by intermediaries fall outside the scope.
• Breaches attract the greater of A$16.5 million, three times the benefit, or 10% of annual turnover, with exemptions for firms holding under A$5,000 per customer and processing under A$10 million annually.
• Treasury has opened consultation with feedback due by Oct. 24, 2025, and is working with ASIC on transitional arrangements, with an expected 12‑month transition period after passage.