FED Licensing and Disclosure Obligations for Digital Asset and Tokenised Custody Platforms

Corporations Amendment (Digital Assets Framework) Bill 2025

1 Apr 2026: Passed by Parliament and signed off by the governor.

This bill kicks in: TBA

House of Representatives

Senate

Assent

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Topics

consumer protection cryptocurrency digital assets financial services investment platforms tokenised assets

Introduced by: The Hon Dr Daniel Mulino MP (ALP)

Links to official parliament websites

Official page: progress through parliament

Effects of this bill

If this bill passes, it means that:

Digital asset platform services are only financial services if provided by a corporation.
Consensus activities using public digital token infrastructure are not financial services.
The Treasurer can declare specific digital asset platforms to be financial markets; the Treasurer must first give the operator a chance to make submissions.
The Treasurer can exempt specific digital asset platforms from being treated as financial markets; the Treasurer must first give the operator a chance to make submissions.
ASIC, APRA, the Reserve Bank and AUSTRAC must advise the Treasurer on whether to make or change these market declarations.
AFSL licensees must follow asset-holding standards for these financial services.
Licensees must provide a DAP/TCP Guide so clients understand the platform and their asset rights.
Licensees must keep the platform's voting policy accurate and manage its administration.

The Debate

What different members said when this bill was debated:

Dr Daniel Mulino ALP

“I move: That this bill be now read a second time. Financial markets are changing. And so is the way people hold and exchange value. Across the world, digital assets are reshaping finance. Blockchain technology and tokenisation are unlocking new ways to invest, trade and transfer wealth. They promise faster settlement, lower costs, and broader access to markets that were once out of reach.”

Official source →

Simon Kennedy LIB

“Digital assets, blockchain infrastructure and tokenisation are taking over global financial markets. They’re reshaping payments, custody, capital raising, trading and clearing; they will all be done by what is essentially smart money—tokenised money that is decentralised. This sector is growing, and blockchain is going to revolutionise the entire sector. The question is not whether it will grow.”

Official source →