Digital asset reforms: what is happening and why does it matter for lawyers? - Law Society Journal
Aug 06 2026 23:01 UTC - Ian Paterson
A practical guide to the new digital asset framework, ASIC’s implementation roadmap and the broader laws lawyers must consider as 2027 approaches.
➤ Australia is implementing a new digital asset framework, the Corporations Amendment (Digital Assets Framework) Act 2026, effective April 9, 2027, which integrates digital asset and tokenized custody platforms into the Australian financial services licensing regime.
➤ The new framework requires careful consideration of existing financial, AML/CTF, credit, consumer, and tax laws, emphasizing that legal practitioners must advise clients on these obligations well before the 2027 deadline.
➤ Given Australia's high consumer adoption of digital assets and evolving regulatory landscape, lawyers need to exercise extreme caution in advising clients, as minor factual variations in transactions can significantly alter regulatory outcomes and documentation.
Read more at: https://rwatimes.io/articles/lsj-digital-asset-reforms-what-is-happening-and-why-does-it-matter-for-lawyers-law-society-journal-3515888111?utm_source=binance
Aug 06 2026 23:01 UTC - Ian Paterson
A practical guide to the new digital asset framework, ASIC’s implementation roadmap and the broader laws lawyers must consider as 2027 approaches.
➤ Australia is implementing a new digital asset framework, the Corporations Amendment (Digital Assets Framework) Act 2026, effective April 9, 2027, which integrates digital asset and tokenized custody platforms into the Australian financial services licensing regime.
➤ The new framework requires careful consideration of existing financial, AML/CTF, credit, consumer, and tax laws, emphasizing that legal practitioners must advise clients on these obligations well before the 2027 deadline.
➤ Given Australia's high consumer adoption of digital assets and evolving regulatory landscape, lawyers need to exercise extreme caution in advising clients, as minor factual variations in transactions can significantly alter regulatory outcomes and documentation.
Read more at: https://rwatimes.io/articles/lsj-digital-asset-reforms-what-is-happening-and-why-does-it-matter-for-lawyers-law-society-journal-3515888111?utm_source=binance