Australia seeks feedback on crypto platform rules ahead of 2027 rollout
Australia’s securities regulator ASIC has opened consultation on proposed capital, custody and trading rules for crypto platforms, implementing the Digital Assets Framework Act passed in April. Options include requiring some firms without qualifying third-party custody to hold at least A$14 million in net tangible assets or 10% of average revenue, whichever is higher. ASIC would allow offshore custody but is seeking feedback on safeguards if an overseas parent or custodian fails. Proposals also restrict platforms’ own-account trading and incentives favoring particular tokens, and require quarterly reporting on customer-asset wallets. Feedback is due Nov. 27; ASIC plans final guidance in March 2027. The law takes effect April 8, 2027, with licensing applications due by Oct. 7.
