✓ Verified by 2+ outlets
Australia's ASIC proposes capital, custody and trading rules for crypto platforms ahead of licensing
Summary
Australia's securities regulator, ASIC, has proposed tougher rules for crypto platforms and is seeking public feedback, CoinDesk and Cointelegraph reported on Oct. 15.
Cointelegraph said the proposals cover capital, custody and trading standards and follow Parliament's passage of digital asset legislation in April.
CoinDesk said the rules are meant to protect users' digital assets and trading and to safeguard financial stability ahead of a licensing deadline, which Cointelegraph described as a 2027 rollout.
Key facts
- ASIC proposed capital, custody and trading standards for crypto platforms.
- Parliament passed digital asset legislation in April.
- The proposals come ahead of a licensing deadline.