AI Prompt Library

Cryptocurrency Law prompts for Australian lawyers

These prompts are designed for AU practitioners advising on digital asset businesses, token offerings, AUSTRAC compliance, ASIC licensing, ATO tax issues, and cryptocurrency disputes. Copy any prompt, replace placeholders with your matter facts, and run it.

In short

A curated library of 25 AI prompts for Australian cryptocurrency and digital asset lawyers. Each prompt is grounded in the Corporations Act 2001 (Cth), AML/CTF Act 2006 (Cth), AUSTRAC DCE registration, the ATO tax rulings, and current ASIC guidance. Use them with Quillio for token issuance, licensing, and disputes.

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Research

Research prompts (5)

Research the definition of financial product

Prompt

Research whether a crypto-asset is a financial product under the Corporations Act 2001 (Cth). Apply ASIC INFO 225 and current Federal Court authority.

Example use: Advising on whether a yield-bearing stablecoin falls within the financial product definition.

Research AUSTRAC DCE registration

Prompt

Research the digital currency exchange registration regime under the AML/CTF Act 2006 (Cth). Cover the section 76B registration, ongoing obligations, and 2025 reforms.

Example use: A new Australian DCE preparing an AUSTRAC registration application.

Research ATO crypto tax treatment

Prompt

Research the ATO treatment of cryptocurrency transactions. Cover TR 2014/26, CGT event rules, trading stock treatment, and personal use asset exemption.

Example use: An investor's CGT position on swapping one crypto asset for another.

Research ASIC INFO 225 on crypto

Prompt

Research ASIC INFO 225 on crypto-assets and the current ASIC position on custody, issuance, and financial services licensing for digital assets.

Example use: A custody-as-a-service crypto provider assessing its AFS licensing obligations.

Research insolvent crypto exchanges

Prompt

Research the treatment of customer assets on an insolvent crypto exchange under Australian law. Cover trust claims, commingling, and Quistclose principles.

Example use: A customer of a failed Australian exchange seeking recovery of wallet balances.

Drafting

Drafting prompts (5)

Draft token terms and conditions

Prompt

Draft token terms and conditions for a utility token issued to Australian users. Issuer: [details]. Token: [details]. Include risk disclosures and user acknowledgements.

Example use: T&Cs for a utility token for a decentralised file storage protocol.

Draft an AUSTRAC program

Prompt

Draft an AML/CTF program for a digital currency exchange under the AML/CTF Act 2006 (Cth). Business: [details]. Include customer identification, transaction monitoring, and reporting.

Example use: An AML/CTF program for a new Australian DCE preparing for AUSTRAC registration.

Draft a freezing order application

Prompt

Draft a freezing order application targeting a crypto wallet. Facts: [details]. Include the supporting affidavit and service provisions for a DCE or exchange.

Example use: A Federal Court freezing order application against a scammer's identified wallet at an Australian DCE.

Draft a crypto custody agreement

Prompt

Draft a custody agreement for an institutional crypto client. Custodian: [details]. Client: [details]. Include cold-storage, key management, and loss-allocation provisions.

Example use: A custody agreement for an institutional Bitcoin custody service.

Draft an ASIC target market determination for crypto

Prompt

Draft a target market determination for a retail crypto-asset investment product. Issuer: [details]. Product: [details]. Structure per Regulatory Guide 274.

Example use: A TMD for a retail crypto managed fund distributed under an AFS licence.

Review

Review prompts (5)

Review a whitepaper for ASIC risk

Prompt

Review this token whitepaper for ASIC INFO 225 risks. Identify whether the token is a managed investment scheme, derivative, or non-cash payment facility.

Example use: A whitepaper for a revenue-sharing token to be issued to Australian retail investors.

Review an AUSTRAC program

Prompt

Review this AML/CTF program against the AML/CTF Act 2006 (Cth) and Rules. Identify any gaps in customer due diligence, risk assessment, and reporting.

Example use: An independent review of an existing DCE's AML/CTF program after a remote onboarding expansion.

Review a smart contract for legal risk

Prompt

Review this smart contract code or audit for legal risk, including automatic execution issues, admin key risk, and consumer law exposure.

Example use: A DeFi lending smart contract with an admin-pausable function.

Review a crypto custody agreement

Prompt

Review this crypto custody agreement. Identify risks around commingling, rehypothecation, loss allocation, insurance, and bankruptcy treatment.

Example use: A prospective institutional client assessing a custodian's master agreement.

Review a tax position paper

Prompt

Review this tax position paper on a crypto transaction. Assess compliance with ATO rulings and the risk of penalties under Part IVA of the ITAA 1936 (Cth).

Example use: A DeFi yield farming strategy structured through a complex token chain.

Client comms

Client comms prompts (5)

Explain AUSTRAC obligations

Prompt

Draft a plain-English letter to a DCE founder explaining AUSTRAC registration, ongoing compliance, and recent reforms.

Example use: For a new Australian exchange founder preparing to launch.

Explain crypto tax basics

Prompt

Draft a plain-English letter to a crypto investor client explaining ATO tax treatment, including CGT events, record-keeping, and the myth of the $10k exemption.

Example use: For an active crypto trader unsure about tax obligations on DeFi activity.

Explain recovery from a hack or scam

Prompt

Draft a plain-English letter explaining the options for recovery after a crypto hack or scam, including tracing, freezing orders, and regulator complaints.

Example use: For a client who lost $200,000 in an ICO investment scam.

Explain token issuance risks

Prompt

Draft a plain-English letter to a startup founder explaining the risks of issuing tokens to Australian users without ASIC licensing or exemptions.

Example use: For a Web3 founder planning a global token launch that includes Australian customers.

Explain custody best practice

Prompt

Draft a plain-English letter explaining institutional custody best practice, including cold storage, multi-sig, and insurance considerations.

Example use: For a family office considering direct custody versus qualified custodian.

Strategy

Strategy prompts (5)

Strategy for a token launch

Prompt

Develop a legal strategy for a crypto token launch with Australian retail exposure. Token: [details]. Consider ASIC licensing, AUSTRAC registration, and ACL implications.

Example use: A gaming token launch aiming for broad retail distribution.

Strategy for a hacked or scammed client

Prompt

Develop an asset-recovery strategy for a client whose crypto was stolen or scammed. Facts: [details]. Consider tracing, freezing orders, and cooperation with DCE compliance teams.

Example use: A client defrauded via an AnyDesk social engineering scam with assets traced to a major exchange.

Strategy for an ASIC enforcement action

Prompt

Develop a strategy for responding to an ASIC enforcement action or section 912A notice for a crypto business. Allegations: [details].

Example use: An ASIC section 912A notice to an unlicensed crypto yield product issuer.

Strategy for a failed exchange customer

Prompt

Develop a recovery strategy for a customer of a failed Australian crypto exchange. Facts: [details]. Consider trust claims, proof of debt, and interim funding.

Example use: A customer with $500,000 in holdings at a collapsed Australian exchange.

Strategy for crypto in family law

Prompt

Develop a strategy for disclosure and tracing of crypto assets in a family law property matter. Facts: [details]. Consider subpoenas, forensic tracing, and valuation.

Example use: A property settlement where one party has undisclosed holdings across multiple exchanges.

Use with Quillio

Run these prompts grounded in AU law

Quillio is built for Australian financial services and digital assets practice — every research output cites the Corporations Act 2001 (Cth), AML/CTF Act 2006 (Cth), ASIC INFO 225, ATO rulings, and current Federal Court authority. See /practice-areas/technology-lawyers for details, or start a free trial at /free-trial to use these prompts on your own matters.

These prompts are templates — always verify outputs against source material and current legislation before relying on them in client matters.

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