The Australian Securities and Investments Commission plans to review feedback on Consultation Paper 392 and publish final standards and guidance for digital asset platforms in March 2027.

Overview Debates Related claims Topics Sources

Circle CEO Jeremy Allaire cited the U.S. GENIUS Act, expected to take effect in January 2027, as a key regulatory framework encouraging wider stablecoin adoption

Binance.US CEO Stephen Gregory, who was appointed in March 2026, has been working to restore U.S. trading activity and expand product offerings following years of regulatory challenges tied to Binance's 2023 settlement with U.S. authorities

Binance.US is working to restore state money transmitter licenses across the United States to expand its customer reach

Binance.US CEO Stephen Gregory outlined plans in July 2026 to pursue a Commodity Futures Trading Commission license allowing Binance.US to offer event contracts, prediction markets, and derivatives

The Coinme deal gives Polygon Labs money-movement regulatory coverage across 48 U.S. states through 37 state money transmitter licenses and 11 exemptions.

The Virtual Assets Regulatory Authority license granted to Standard Chartered applies to Dubai's mainland and free zones, while excluding the Dubai International Financial Centre which operates under distinct financial regulations

ASIC's custody rules proposed in Consultation Paper 392 require digital asset platforms to retain wallet structures and address records for seven years and report them quarterly to ASIC without disclosing private keys

ASIC's trading rules proposed in Consultation Paper 392 require digital asset platforms to maintain controls to detect and prevent market manipulation and take reasonable steps to ensure best execution for customer orders

ASIC's regulatory framework proposed in Consultation Paper 392 permits Australian platforms to use overseas custodians provided they disclose asset locations and cross-border risks to customers

Australia's new licensing regime under the Corporations Amendment (Digital Assets Framework) Act for digital asset platforms takes effect on April 8, 2027, with licence applications scheduled to open on the same day

Under one model proposed by ASIC in Consultation Paper 392 on October 15, 2026, platforms without qualifying third-party custody must hold at least A$14 million in net tangible assets or 10% of average revenue

Under capital rules proposed in ASIC's Consultation Paper 392, digital asset platforms meeting specified third-party custody conditions could qualify for a lower base capital requirement of A$200,000 alongside asset or revenue calculations

Under a third capital model proposed by ASIC, digital asset platforms face activity-based additions including A$500,000 for acting as agent, A$750,000 for running neutral venues, and A$1 million for principal trading

ASIC proposed in Consultation Paper 392 an alternative capital model with a A$7 million net tangible asset threshold for platform operators that do not hold underlying assets classified as financial products

Under ASIC's proposed standards, platforms face restrictions on trading for their own accounts as principal and are prohibited from taking benefits to give preferential treatment to specific tokens.

The Australian Securities and Investments Commission published Consultation Paper 392 on October 15, 2026, proposing a licensing and regulatory framework for digital asset platforms and tokenised custody platforms, with industry feedback accepted until November 27, 2026.

ASIC proposed that platforms holding over A$100,000 in client money maintain at least A$50,000 in surplus liquid funds, while platform-issued stablecoins are excluded from net tangible asset calculations.

More than 110 of the licensing applications received by ASIC arrived during a temporary regulatory relief period between October 2025 and September 30, 2026.

The Australian Securities and Investments Commission has received over 140 applications from businesses seeking authorization to provide digital asset-related financial services.

Under the Corporations Amendment (Digital Assets Framework) Act 2026, which received Royal Assent on April 8, 2026, covered digital asset platforms must obtain an Australian financial services licence.