ASIC Consults on Digital Asset Framework Rules for Platforms and Custodians

The Australian Securities and Investments Commission (ASIC) released Consultation Paper 392 on Oct. 15, 2026, launching a formal review to implement the Corporations Amendment (Digital Assets Framework) Act 2026 ¹. The package details proposed standards and regulatory guidance governing digital asset platforms (DAPs) and tokenised custody platforms (TCPs) ¹. Feedback on the proposal remains open through Nov. 27, 2026 ¹.

ASIC's consultation materials package four core areas of supervision: new regulatory guidance covering DAPs and TCPs, asset-holding standards, transactional and settlement standards, and distinct financial requirements for platform operators ¹. These requirements are accompanied by preliminary drafts of legal instruments, including Draft Regulatory Guide 000, along with specific draft 2027 instruments targeting asset custody, transaction settlement, and balance-sheet requirements ¹. ASIC noted that these preliminary drafts are illustrative and could shift significantly ahead of final publication ¹.

Implementation Roadmap and Standards

The consultation aligns with ASIC's broader roadmap for digital asset law reform implementation and runs alongside parallel regulatory design work by the Australian Government ¹. According to ASIC, sharing the preliminary instruments is intended to give the digital asset sector a complete overview of the forthcoming framework ¹.

The domestic push comes amid broader international efforts to define platform perimeters, such as initiatives like the UK FCA perimeter guidance and the CFTC's proposed retail regulatory regime. Market participants subject to the prospective rules have until late November 2026 to submit commentary on the draft instruments ahead of potential formal enactment under the planned 2027 instruments ¹.