Two frameworks, two timelines
The conduct framework is moving. The Corporations Amendment (Digital Assets Framework) Act 2026 passed Parliament on April 1, 2026, received Royal Assent on April 8, 2026, and will commence on April 9, 2027, bringing digital asset platforms and tokenised custody platforms under the Australian Financial Services Licence (AFSL) regime for the first time. APRA has consulted on the prudential treatment of tokenised assets and digital exposures, aligning with Basel Committee guidance on crypto-asset risk weightings. However, no insurer-specific guidance on the capital treatment of tokenised fixed income instruments has been published under GPS 114.