Australia’s financial watchdog seeks stiffer rules for crypto exchanges ahead of licensing deadline
The country’s regulator, ASIC, has proposed tougher rules to protect users’ digital assets, crypto trading and to safeguard the country’s financial stability.
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Summary
- Australia’s financial regulator proposed standards requiring cryptocurrency exchanges and digital asset custodians to safeguard customer funds, ensure transparent trading and meet financial requirements.
- The rules take effect April 8, 2027, and existing firms may continue operating if they apply for a license by Oct. 7, 2027, while regulators review their applications.
- The consultation closes Nov. 27, with final guidance expected in March 2027, as Australia moves to regulate crypto businesses more like traditional financial firms.
