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Australia introduced a new bill requiring crypto platforms to hold financial services licenses
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The legislation covers exchanges, custody providers, and tokenized asset platforms
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The bill aims to align crypto services with existing consumer protection rules
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Smaller operators will have exemptions similar to other low-risk financial products
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The framework also covers tokenized RWAs and could unlock large productivity gains
New Bill Targets Full Financial Licensing for Digital Asset Platforms
Australia’s Treasury submitted the Digital Assets Framework Bill 2025, a major step toward regulating crypto under the traditional financial system. Under the proposal, exchanges and tokenized asset custodians must acquire an Australian Financial Services Licence, bringing them under the same regime as other financial institutions.
The law would apply consumer protection, governance, disclosures, and dispute resolution rules to crypto platforms for the first time.
Tailored Obligations and Small-Operator Exemptions
The bill introduces exemptions for smaller providers handling less than A$5,000 per customer or under A$10 million in annual transactions. This mirrors existing carve-outs for low-risk financial products.
The new framework covers Bitcoin, stablecoins, and tokenized versions of real-world assets, with Treasury estimating that digital finance could unlock up to A$24 billion in annual efficiency gains.
Regulators Warn Australia Must Keep Pace
ASIC and Treasury have emphasized urgency, arguing that global markets are shifting toward tokenization. Officials say Australia must modernize or risk falling behind as capital markets adopt blockchain-based infrastructure.
