Australia's securities regulator, ASIC, has proposed tougher operating standards for cryptocurrency exchanges and custodians, including a minimum A$14 million net tangible assets requirement for platforms not using third-party custody. For those utilizing independent custodians, the starting capital requirement would be A$200,000. These proposals are part of a consultation package released on October 15, aiming to bring crypto platforms under safeguards comparable to traditional financial institutions, ahead of a new licensing regime taking effect in 2027. Submissions for feedback close on November 27, with final guidance expected in March 2027.