- ASIC in Australia has suggested new crypto platform guidelines for capital, custody, trading, and customer safety ahead of the 2027 launch.
- A minimum of 9.7 million in net tangible assets or 10% of average revenue, whichever is larger, must be held by specific cryptocurrency platforms according to one suggested capital model.
- Offshore custodians may be used by cryptocurrency platforms, but they may also be subject to additional private-key access security measures and quarterly wallet reporting obligations.
Australia’s securities regulator is asking for input from the industry on rules about capital, custody and trading. This is part of Australia’s plan to roll out a licensing system for digital asset platforms by 2027.
The Australian Securities and Investments Commission or ASIC started the consultation on October 15. They shared draft standards meant to protect customers make things clearer and set out what crypto businesses need to follow.
THE BLOCK: Australia’s ASIC is seeking feedback on standards for new digital asset laws ahead of April 2027 rollout.
The proposals cover asset holding, trading, settlement and licensing. The regulator has received more than 140 applications from businesses seeking to provide crypto-related financial services. Comments close Nov. 27, 2026.
— The Block (@TheBlockCo) October 15, 2026
These proposals come after Parliament passed the Corporations Amendment (Digital Assets Framework) Act in April 2026. That law brings oversight to digital asset platforms, in Australia.
ASIC Proposes $9.7M Capital Requirement For Some Crypto Platforms
ASIC is considering three alternative capital models for digital asset platform operators.
Under one proposal platforms that do not have qualifying third-party custody arrangements would be required to keep least 14 million Australian dollars, which is about 9.7 million US dollars in net tangible assets. Alternatively they would need to maintain 10 percent of their revenue. The higher of the two amounts would apply.
OKX Australia CEO Shange Chandra welcomed the proposals, saying the standards could encourage industry consolidation by placing greater pressure on operators that have not invested sufficiently in compliance, capital and custody.
Offshore Crypto Custody Allowed Under Proposed Rules
The regulator is also considering allowing crypto platforms to hold customer assets through offshore custodians, reflecting the global nature of digital asset markets.
However, ASIC is seeking feedback on safeguards that would give Australian operators emergency access to private keys if an overseas parent company or related entity fails.
Platforms would also need to report their custody wallet structures and addresses to ASIC every quarter and retain relevant records for seven years.
ASIC Sets November Deadline For Feedback On New Crypto Rules
The consultation is part of ASIC’s 18‑month implementation roadmap for the Digital Assets Framework Act. Stakeholders have until November 27, 2026, to submit feedback. ASIC plans to publish standards and guidance in March 2027.
The legislation will begin on April 8, 2027. Crypto operators will have until October 7, 2027, to apply for the license. Crypto operators may keep operating while ASIC reviews their applications.
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