ASIC plans to regulate digital asset custody platforms by April 2027
Summary
Australia's ASIC is set to regulate digital asset and tokenised custody platforms beginning in April 2027 as part of a dedicated oversight framework. This initiative will include the issuance of consultation papers, guidance, and draft rules, with a focus on maintaining market integrity and enhancing risk management practices within the digital asset sector.
Analysis
Australian Securities and Investments Commission: The Australian Securities and Investments Commission is Australia's corporate, markets and financial services regulator. It oversees compliance, market integrity and investor protection across financial sectors. The regulator is developing rules and guidance for oversight of digital asset and tokenised custody platforms. Market Integrity: The regulator will emphasize ongoing monitoring of risk management practices in the digital asset sector. Regulatory Timeline: Australia is advancing a dedicated oversight framework for digital asset custody services with implementation targeted for 2027.
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