The Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.
The Australian Government has taken a significant step toward regulating digital asset platforms under the Australian Financial Services Licensing (AFSL) regime, with draft legislation set for its second reading in Parliament. This swift move follows public consultations with industry on exposure draft legislation which were completed on 24 October 2025.
Feedback during the consultation period was broadly supportive, though concerns remain about compliance costs, definitional scope and the potential impact on smaller operators. ASIC has also, in the meantime, updated its INFO 225 guidance and issued a sector-wide ‘no-action’ position until 30 June 2026. The effect of that guidance is that operators must consider the extent to which they will require additional licences and product authorisations to operate their business in addition to the new digital asset framework laid before Parliament. The new legislative framework is targeted only at custody of non-financial products, asset tokenisation and clarifying the application of existing rules to these two new types of financial product.
Authors:
Steven Pettigrove (spettigrove@piperalderman.com.au – Partner),
Luke Higgins (lkhiggins@piperalderman.com.au – Associate),
Tahlia Kelly (tkelly@piperalderman.com.au – Law Graduate),
Sophie Nguyen (snguyen@piperalderman.com.au – Paralegal)