More consumers who use digital assets such as cryptocurrency, wrapped tokens, stablecoins, tokenised securities and digital asset wallets can now access AFCA’s dispute resolution service.
This follows clarification in October 2025 that a digital asset can be considered a financial product, as set out in ASIC’s Information Sheet 225 (INFO 225), and approximately 30 digital asset businesses applying for an AFSL.
While some digital asset fintechs previously chose to join AFCA voluntarily, membership was not mandatory and many consumers had no access to AFCA if something went wrong.
Consumers using these products can now bring disputes to AFCA, if they are unable to resolve them directly with their provider, and the firm is an AFCA member.
AFCA’s Lead Ombudsman for Investments and Advice, Shail Singh, said: “This requirement gives consumers a clear pathway to complain if they are using these products and something goes wrong.”
He added: “Digital assets are increasingly part of the way people manage and move money, so it’s important consumers have access to an independent dispute resolution service if they need it.”
Organisations providing digital asset services that are AFCA members include: AUDC, Bit Trade (Kraken Exchange), BTC Markets, Coinbase Australia, CoinJar Australia, Elbaite, eToro AUS Capital, Flash Partners (Flash FX), Independent Reserve (Bitcoin.com.au, Revolut Payments Australia, Superhero Securities, and Tiiik (Stables Money).
“AFCA has handled more than 1,000 complaints about digital assets over the past six years, so we have experience dealing with the types of issues that can arise in this sector,” Singh noted.
ASIC is looking at a potential streamlining of the licence variation process for entities that obtained an AFSL following the updated information provided in October 2025 and have since become regulated under the DAF when it was legislated in April 2026.
The no-action period for DAF regulated entities not having an AFSL has now expired on 30 September 2026.
Australia’s federal Digital Assets Framework (DAF) goes lives in April 2027.