"The legislation integrates crypto platforms into the existing Australian Financial Services Licence (AFSL) regime, placing them under the same standards that govern brokers and fund managers."
"Operators in both categories must obtain an AFSL from the Australian Securities and Investments Commission, subjecting them to obligations including safeguarding client assets and maintaining adequate capital."
"Rather than regulating digital assets themselves, the framework targets intermediaries that control customer funds, addressing risks exposed by past industry failures."
"Australia's Hostplus pension fund is exploring offering Bitcoin and other digital assets to its nearly two million members through its Choiceplus platform."
Australia's new digital asset framework mandates that crypto exchanges and custody providers secure financial services licenses, integrating them into the existing Australian Financial Services Licence regime. The Corporations Amendment (Digital Assets Framework) Bill 2025 introduces two regulated categories: digital asset platforms and tokenized custody platforms. Operators must comply with obligations such as safeguarding client assets and maintaining adequate capital. This framework aims to mitigate risks from past industry failures by focusing on intermediaries controlling customer funds, rather than regulating the digital assets themselves.
Read at Bitcoin Magazine
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