ASIC releases crypto standards, exchanges face $14 million capital rules by 2027

Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), has introduced detailed operating standards for cryptocurrency exchanges and custody providers, marking the country’s most comprehensive crypto regulatory push to date. The framework, proposed on October 15, outlines requirements that will take effect in April 2027, significantly impacting how digital asset platforms operate in the country. Under ASIC’s latest guidance, all cryptocurrency platforms in Australia will be required to obtain a dedicated financial services license. These licenses bring strict standards regarding client asset protection, trade execution processes, and management of conflicts of interest.

Source: CoinTurk News