Digital Wealth SpecialistEducation Platform
Navigating the Regulatory Landscape Under Your AFSL
What you can and cannot say about digital assets — and how to stay on the right side of ASIC as the framework evolves
Atlas Guides You Through Lesson 4
"This is the lesson that most financial professionals are most anxious about. What can I say? What can't I say? What are my obligations? What are my risks? Let me give you the framework — clearly, practically, and without the legal jargon."
— Atlas, your Digital Wealth Bridgekeeper
The Current Regulatory Position
As of 2024, most digital assets (including Bitcoin and Ethereum) are not classified as 'financial products' under the Corporations Act 2001. This means that providing advice about them does not technically require an AFSL. However, this is changing — and the 2026 regulatory framework is expected to bring many digital assets within the financial product definition.
"The key principle is this: you can educate, you can explain, and you can refer. What you cannot do is provide personal financial advice about digital assets without the appropriate authorisation. The line between education and advice is the same line that applies to all financial products."
What You Can Do
Under current regulations, financial professionals can: provide general information about digital assets (what they are, how they work, the risks), refer clients to specialist digital asset advisers or platforms, discuss digital assets in the context of estate planning (as property, not financial products), and help clients understand the tax implications of their existing digital asset holdings.
What Requires Care
The following activities require careful consideration and potentially specific authorisation: recommending that a client buy or sell specific digital assets, providing advice on digital asset allocation within an SMSF, and providing advice on digital asset investment strategies.
The Referral Model
The most practical approach for most financial professionals is the referral model: educate yourself about digital assets (this pathway), identify which of your clients have digital asset exposure or interest, refer those clients to a specialist Digital Wealth Specialist (like Darren Bartsch) for detailed guidance, and maintain your role as the trusted adviser who coordinates the overall financial strategy.
| Activity | Current Position | Recommendation |
|---|---|---|
| General education about digital assets | Generally permitted | Do this — it's valuable for clients |
| Explaining risks and scams | Generally permitted | Do this — it's your professional duty |
| Recommending specific assets | Requires care | Refer to specialist |
| SMSF digital asset strategy | Requires care | Refer to specialist + document |
- Most digital assets are currently not classified as financial products — but this is changing with 2026 regulation
- You can educate, explain, and refer — you cannot provide personal financial advice without appropriate authorisation
- The referral model is the most practical approach for most financial professionals
- Always consult your licensee before changing your approach to digital asset client conversations
- Document all digital asset conversations with clients, regardless of the nature of the discussion
Question 1: Have you spoken to your licensee about your obligations regarding digital asset client conversations? What was their guidance?
Question 2: How would you describe the difference between 'education' and 'advice' in the context of digital assets to a client?
When You're Ready for a Real Conversation
Atlas Bridges You to a Digital Wealth Specialist
I'm here to educate you. When your questions become personal, specific, or more complex — that's when I connect you with Darren Bartsch, a Digital Wealth Specialist who can have a real conversation about your situation.