Australia Passes Landmark Crypto Law, Mandates Licensing for Exchanges and Custodians

Australia has approved its first comprehensive digital asset framework, bringing crypto exchanges and custody providers under the country’s core financial regulations. The Corporations Amendment (Digital Assets Framework) Bill 2025 integrates crypto platforms into the existing Australian Financial Services Licence (AFSL) regime, subjecting them to standards governing brokers and fund managers. The law introduces regulated categories for digital asset platforms and tokenized custody platforms, requiring operators to obtain an AFSL and meet obligations like safeguarding client assets and maintaining adequate capital. Policymakers focused on regulating intermediaries to address risks exposed by past industry failures. Hostplus, a large pension fund, is also exploring offering Bitcoin to its members. The reforms replace a fragmented system and grant expanded powers to regulators, while providing limited exemptions for smaller platforms.

(Source：Bitcoin Magazine)