The Australian Securities and Investments Commission published Consultation Paper 392 on October 15, 2026, setting out proposed licensing standards for digital asset platforms and tokenised custody platforms.
Under the Corporations Amendment (Digital Assets Framework) Act 2026, which received Royal Assent on April 8, 2026, crypto platforms must obtain an Australian Financial Services licence to operate.
The new licensing framework for digital asset platforms and tokenised custody platforms in Australia is scheduled to take effect on April 8, 2027.
Under one proposed capital model from the Australian Securities and Investments Commission, crypto platforms without qualifying third-party custody must hold at least A$14 million in net tangible assets or 10% of average revenue.
Existing crypto platform operators in Australia will have until October 7, 2027, to apply for a licence while continuing operations under transitional arrangements.
The Australian Securities and Investments Commission proposed requiring crypto platforms to retain wallet structures and address records for seven years and submit quarterly reports to the regulator.
Under proposed Australian capital rules, platforms meeting specified third-party custody conditions could qualify for a lower base capital requirement of A$200,000.
Proposed Australian custody rules permit crypto platforms to use overseas custodians provided they disclose location details and associated cross-border risks to customers.
Proposed trading rules by the Australian Securities and Investments Commission restrict crypto platforms from trading for their own accounts and from accepting payments to give tokens preferential treatment.
Australian Securities and Investments Commission Commissioner Alan Kirkland stated the regulator is following a 'same activity, same risk, same regulatory outcome' approach to align with overseas jurisdictions.
The Australian Securities and Investments Commission proposed a capital model with a A$7 million threshold for certain operators that do not hold underlying assets classified as financial products.
The Australian Securities and Investments Commission will accept public and industry feedback on Consultation Paper 392 until November 27, 2026.
The Australian Securities and Investments Commission plans to publish its final crypto platform standards and regulatory guidance in March 2027.
More than 110 of the digital asset financial services applications submitted to the Australian Securities and Investments Commission arrived during a temporary regulatory relief period between October 2025 and September 30, 2026.
The Australian Securities and Investments Commission reported receiving over 140 applications from businesses seeking authorization to provide digital asset-related financial services.
A third capital model proposed by the Australian Securities and Investments Commission adds A$500,000 for acting as agent, A$750,000 for operating a neutral venue, and A$1 million for principal trading.
The legislation passed by Australia's Parliament in April 2026 brings crypto regulation into alignment with jurisdictions including the European Union, Singapore, and Hong Kong.
Proposed Australian capital rules exclude certain stablecoins issued or controlled by a crypto platform or its related entities from net tangible asset calculations.
OKX Australia CEO Shane Chandra stated that the proposed Australian regulatory standards could drive industry consolidation by rewarding operators who have already invested in compliance.
Digital Economy Council of Australia CEO Amy-Rose Goodey welcomed the release of Consultation Paper 392 as a milestone shifting focus toward practical implementation of crypto reforms.
