Australia targets crypto exchanges with stiffer safeguard rules ahead of 2027 deadline
Summary
ASIC proposed standards for Australian cryptocurrency exchanges and digital asset custodians, covering customer-asset protection, trading transparency, settlement, conflicts of interest and financial resources. The proposals are part of legislation passed in April to bring crypto firms under a framework closer to that for traditional financial businesses. A consultation runs until Nov. 27, with final guidance expected in March 2027. The rules take effect April 8, 2027; existing firms must apply for a license by Oct. 7, 2027, and may continue operating while applications are reviewed. ASIC said it has received more than 140 authorization applications. Payment stablecoins are being handled separately under reforms to payment services.
