Australia Senate Panel Backs Crypto Framework in Latest Regulatory Push
An Australian Senate committee has endorsed legislation to regulate crypto platforms and custody services under the country’s financial-services laws. The Corporations Amendment (Digital Assets Framework) Bill 2025 would require digital-asset businesses to obtain an Australian Financial Services Licence, comply with asset-safeguarding and disclosure standards, and define concepts like “digital tokens” and “digital asset platforms.” The reforms aim to close gaps that currently let businesses hold significant customer assets without traditional finance safeguards. If enacted, there will be a six-month transition period for unlicensed providers. Industry groups have welcomed the clarity, suggesting it could boost Australia’s economy by up to $24 billion annually. The bill will now move forward in the parliamentary process.
