Australia passes crypto regulation requiring exchanges to obtain financial services licenses
Australia has enacted its first comprehensive crypto regulation, requiring exchanges and custody platforms to obtain financial services licenses.Summary
Australia has passed the Corporations Amendment (Digital Assets Framework) Bill 2025, establishing a comprehensive regulatory framework for digital assets. This legislation requires crypto exchanges and custody providers to obtain Australian Financial Services Licenses (AFSL) from ASIC, bringing them under existing financial regulations regarding client asset safeguarding, disclosures, and dispute resolution. The new law focuses on regulating the companies handling customer funds, aiming to mitigate risks associated with commingling, insolvency, and asset misuse. Experts estimate this framework could unlock up to A$24 billion annually for Australia's digital asset market, significantly increasing potential revenue compared to previous projections. Industry leaders, such as Kraken and OKX Australia, have welcomed the legislation as a positive step towards fostering investment and institutional participation in the digital asset space.
(Source：CoinDesk)