ASIC Proposes Tougher Crypto Exchange Rules Ahead of 2027 Licensing Deadline

Crypto exchanges that hold customers’ coins themselves could need AU$14 million (US$9.66 million) in net tangible assets under rules the Australian Securities and Investments Commission (ASIC) proposed on Thursday. The figure sits in Consultation Paper 392, ASIC’s draft standards and guidance for the Corporations Amendment (Digital Assets Framework) Act 2026. The paper also covers licensing, custody and trading. ASIC is taking submissions until 5 p.m. AEDT on 27 November. Parliament passed the law on 1 April, weeks after a Senate committee backed the bill. ASIC set out three models for the capital requirement.

Source: Crypto News Australia