Australia Introduces New Cryptocurrency Exchange Regulation Bill, Introducing Concepts of Digital Asset Exchange and Tokenization Custody Platform
BlockBeats News, November 27th, according to Decrypt's report, the Australian Treasury and Department of Financial Services have submitted the "2025 Corporations Act Amendment (Digital Assets Framework) Bill" to Parliament, establishing the country's first comprehensive regulatory framework for businesses holding digital assets on behalf of clients. The bill introduces two new financial product categories: digital asset platforms and tokenization custody platforms, both of which will need to obtain an Australian Financial Services License. Digital asset platforms cover operators holding client crypto assets and providing facilities for transfers, trading, or staking; tokenization custody platforms deal with real-world assets such as bonds, real estate, and commodities.
The platforms must adhere to the Australian Securities and Investments Commission (ASIC) custody and settlement standards. Platforms where each client holds less than $5,000 in assets and with an annual trading volume below $10 million can be exempt from the full licensing requirements. The Australian government has stated that this bill could unlock $24 billion in annual productivity gains, and non-compliant businesses will face fines in the millions of dollars.
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