The consultation opened on October 15

Australia’s securities regulator ASIC announced consultation on standards for digital asset platforms and tokenised custody platforms. Its CP 392 package addresses asset holding, transactions, settlement and relevant financial requirements. The laws are scheduled to commence on April 8, 2027; consultation remains open until November 27, 2026.

ASIC describes obligations including applying for or varying a financial-services licence, providing customer disclosure documents and platform rules, and meeting applicable standards. These are proposals and implementation guidance under a future framework. An announcement on October 15 does not mean every platform has already met the proposed requirements.

The customer question is where the assets sit

For a person using an exchange, a balance displayed on screen does not by itself explain the legal and operational arrangements behind it. Who holds the assets, how they are separated, who can authorize transfers and what happens during a disruption are different questions. Clearer custody and platform disclosures could help customers compare providers on more than trading fees.

Trade execution is another practical issue. A platform’s order-handling rules and settlement process influence what a quoted price means in practice. Rules on financial resources concern the operator’s capacity to run its business; they should not be read as a promise that crypto prices cannot fall or that every loss will be repaid.

What Australian users can and cannot conclude

This is an Australian regulatory development, not a worldwide change to the status of every token or wallet. ASIC’s release describes the categories of businesses covered and the consultation process. It does not authorize an individual customer’s transaction or replace the terms of the provider that customer uses.

Readers comparing services can look for the exact contracting entity, relevant licence information and current custody terms, then follow the final standards when published. The consultation deadline is a deadline for feedback, not a deadline requiring ordinary holders to sell or move their coins. Personal legal or tax treatment cannot be inferred from this general account of the regulator’s announcement.

Original source

ASIC · 26-245MR — External sourceCoinDesk — External source
Event / reporting period
2026-10-15
Report published
Source checked

AI-assisted text and translations based on the linked sources. No affiliation with the companies covered.

Information only. Not investment advice. Cryptoassets can lose value; availability and fees vary by provider and region.