Australian Senate panel backs crypto regulation framework
An Australian Senate committee supports legislation to integrate crypto platforms into the financial services framework.Summary
The Australian Senate Economics Legislation Committee has backed the proposed Corporations Amendment (Digital Assets Framework) Bill 2025, which aims to modernize digital asset oversight by integrating cryptocurrency platforms and custody providers into the existing financial services framework. The legislation seeks to establish a licensing and compliance system for digital token managers by amending the Corporations Act 2001 and the ASIC Act 2001, focusing on firms holding assets for customers rather than regulating the underlying blockchain. If enacted, firms without an Australian Financial Services Licence (AFSL) will have six months to comply. Currently, crypto exchanges must register with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
(Source：CoinDesk)