Australia seeks feedback on crypto platform rules ahead of 2027 rollout

What happened: Australia's securities regulator ASIC opened consultation on proposed capital, custody and trading rules for crypto platforms, following April passage of digital asset legislation. Key numbers: One capital model requires operators without qualifying third-party custody to hold at least AUD 14 million ($9.7 million) in net tangible assets or 10% of average revenue, Why it matters: Industry figures welcomed the proposals. OKX Australia's CEO said the standards could drive consolidation, rewarding operators that already invested in compliance and challenging those that waited.

Australia's securities regulator ASIC opened consultation on proposed capital, custody and trading rules for crypto platforms, following April passage of digital asset legislation.

Industry figures welcomed the proposals. OKX Australia's CEO said the standards could drive consolidation, rewarding operators that already invested in compliance and challenging those that waited.