Corporations Amendment (Digital Assets Framework) Act 2026 (38 of 2026)

Schedule 1   Digital asset platforms and tokenised custody platforms

Part 7   Amendment of the ASIC Act

Australian Securities and Investments Commission Act 2001

91   After section 12BAB

Insert:

12BAC Conduct relating to certain platforms is a financial service only if engaged in by, or on behalf of, a constitutionally-covered corporation

Despite anything in section 12BAB, conduct that:

(a) relates to a digital asset platform, or a tokenised custody platform, that is a financial product only because of paragraph 12BAA(7)(lb) or (lc); and

(b) would, apart from this section, be a financial service (or a kind of financial service);

is a financial service (or a kind of financial service) only if the conduct is engaged in by, or on behalf of, a constitutionally-covered corporation.

Note: Dealing in a financial product is an example of a kind of financial service (see section 12BAB).