Overview
- ASIC published Consultation Paper 392 on October 15, 2026, and is seeking feedback until 5pm AEDT on November 27, 2026, on how to apply the Digital Assets Framework in practice.
- The proposals would require digital asset platforms (DAPs) and tokenised custody platforms (TCPs) to hold an Australian financial services (AFS) licence and to provide customer disclosure documents and platform rules.
- ASIC set out draft operational standards for how platforms must hold and record customer assets, run trading and settlement processes, and guard against market misconduct and conflicts of interest.
- The regulator is consulting on three financial resource models that include a top-tier net tangible asset threshold of A$14 million for certain operators without qualifying third-party custody arrangements.
- More than 140 businesses have applied to provide digital-asset financial services during the transition period, and firms should prepare to meet the proposed standards before the framework commences on April 8, 2027.