ASIC Unveils Strict Crypto Custody and Trading Proposals

TL;DR ASIC has proposed new capital, custody, and trading requirements for crypto exchanges and digital asset service providers in Australia. One of the proposed models would require certain platforms without qualifying third-party custody arrangements to hold at least 14 million Australian dollars in capital. The legislation will take effect on April 8, 2027, and companies will have until October 7 of that year to apply for their licenses. The Australian Securities and Investments Commission (ASIC) has unveiled a series of regulatory proposals that would impose stricter requirements on cryptocurrency exchanges and digital asset custody providers. The measures aim to strengthen customer fund protection , improve trading transparency, and establish financial obligations for platforms operating in Australia.

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