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ARTICLE · 13 NOVEMBER 2026

What Platform Operators Need To Know As ASIC Consults On Digital Assets Reform

Hall & Wilcox
Hall & Wilcox
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Hall & Wilcox

Hall & Wilcox

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ASIC has released Consultation Paper 392 outlining its proposed implementation approach for Australia's reformed Digital Assets Framework, including new licensing requirements, asset-holding standards, and financial requirements for digital asset platform and tokenised custody platform operators. The consultation introduces three alternative net tangible asset models...

AustraliaFinance and Banking
John Bassilios
John Bassilios
Aash Velhal
Aash Velhal

ASIC has commenced consultation on the implementation of the reformed Digital Assets Framework, announcing on 15 October 2026 the release of Consultation Paper 392 Digital asset law reform implementation: Proposed standards and guidance (CP 392).

CP392 which sets out ASIC’s proposed approach to implementing the new regime for digital asset platforms (DAPs) and tokenised custody platforms (TCPs).

We summarise ASIC’s key proposals and what they mean for crypto exchanges, custodians and other digital asset businesses.

Need to know

  • ASIC has released CP 392 together with a draft regulatory guide, draft asset-holding standards, draft transactional and settlement standards and draft financial requirements for DAP and TCP operators.

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