Digital assets are no longer confined to technology startups and crypto enthusiasts. Increasingly, businesses are holding digital assets on their balance sheets, using digital asset platforms or exploring new opportunities in decentralised finance.
As adoption grows, so does regulatory scrutiny.
Recent developments from the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO) highlight a broader shift: digital assets are becoming part of Australia’s mainstream regulatory and tax environment. Businesses and investors can no longer focus solely on the commercial opportunity. They also need to consider governance, licensing, tax treatment and record keeping.
At Moore Australia, we see the most successful organisations taking a proactive approach. Rather than reacting to each regulatory update as it appears, they are building robust frameworks that help them understand their exposure, document key decisions and adapt as the market evolves.
Why digital assets are attracting greater attention
A series of recent regulatory developments demonstrates that digital assets are increasingly being treated as part of the broader financial system.
ASIC continues to refine its approach to businesses involved in digital assets, including exchanges, intermediaries, wallet providers, decentralised finance platforms, custodians and asset managers. Its guidance reinforces that digital assets are not automatically outside Australia’s financial-services framework simply because they use new technology.
At the same time, the ATO has released draft guidance examining the tax treatment of crypto-asset airdrops and certain wrapped-token transactions. While both pieces of guidance remain in draft form, they provide useful insight into the ATO’s current thinking and the areas receiving increased attention.
Looking ahead, the Corporations Amendment (Digital Assets Framework) Act 2026 is scheduled to commence on 8 April 2027, introducing a new framework for digital asset platforms and tokenised custody platforms.
The message is clear: digital assets are becoming part of the established regulatory landscape, and organisations should ensure their processes evolve accordingly.
Three areas to review now
1. Licensing and regulatory obligations
One of the most common misconceptions is that digital assets sit outside traditional financial-services regulation.
In reality, ASIC’s guidance focuses on the rights attached to an asset and the services being provided, rather than the technology itself. Two organisations operating in the same sector may therefore have very different obligations depending on how their products or services are structured.
Business leaders should ask:
- Have we assessed whether any of our digital asset activities involve a financial product or financial service?
- Have we documented that assessment?
- When was it last reviewed?
The ability to clearly explain and support a regulatory position is becoming increasingly important.
2. Tax treatment
The ATO’s recent guidance highlights another important consideration: transactions that appear straightforward from a commercial perspective may not always be straightforward from a tax perspective.
Its draft ruling on airdrops examines the tax consequences of receiving crypto assets under different scenarios, including business activities and other circumstances. Its draft determination on wrapped assets considers whether particular wrapping and unwrapping arrangements may trigger capital gains tax consequences.
The key takeaway is not that every transaction creates a tax liability. Rather, organisations and investors should avoid making assumptions and ensure they understand how their specific circumstances affect the outcome.
3. Governance and record keeping
Strong governance is often overlooked in discussions about digital assets.
Yet this is frequently where the greatest risk exists.
Regardless of the asset, organisations should be able to answer some fundamental questions:
- What digital assets do we hold?
- How were they acquired?
- How are they valued?
- Who is responsible for oversight?
- What documentation supports our decisions?
Without reliable records, it becomes significantly more difficult to support tax positions, regulatory assessments and financial reporting decisions.
Five practical questions for businesses and investors
If your organisation deals with digital assets, now is a good time to step back and review your current approach.
Consider the following questions:
- Do we have a complete understanding of our digital asset exposure?
This includes not only assets held, but also related services, transactions and platforms. - Have we documented our regulatory position?
Could the organisation explain why its activities do or do not fall within existing financial-services requirements? - How are assets being valued?
Valuation methodologies should be consistent, supportable and appropriately documented. - Are significant transactions supported by adequate records?
This includes airdrops, disposals, transfers and wrapped-token arrangements. - Are we prepared for future developments?
With additional regulatory change expected, businesses should assess whether existing frameworks remain fit for purpose.
Turning awareness into action
Digital assets are maturing. As they become more integrated into business operations and investment strategies, the expectations surrounding them are also increasing.
The organisations best positioned for future change will not necessarily be those with the largest digital asset holdings. They will be those that understand their exposure, maintain accurate records, document key decisions and regularly review their tax and regulatory positions.
The goal is not to respond to every development in isolation. It is to build a repeatable process that allows the organisation to identify digital asset activity, assess its implications and adapt as regulation evolves.
At Moore Australia, we help businesses and investors navigate complex and evolving issues with confidence. Whether reviewing digital asset activities, strengthening governance processes or assessing potential tax and regulatory implications, taking proactive steps today can help reduce uncertainty tomorrow.
This article contains general information only and does not constitute tax, legal or financial advice. Advice should be obtained based on your specific circumstances.
