EddieJayonCrypto
21 Mar 25
The Australian government, led by Prime Minister Anthony Albanese, has introduced a new regulatory framework for digital assets. The reforms aim to provide certainty for industry participants while addressing consumer protection and market integrity risks. Major crypto platforms will need an Austral...
The Australian government, under Prime Minister Anthony Albanese, has introduced a new regulatory framework for digital assets. The reforms aim to provide certainty for industry participants while addressing risks tied to consumer protection and market integrity. Major crypto platforms will need an Australian Financial Services Licence while exempting smaller-scale firms and businesses not involved in financial services. The framework covers crypto exchanges, custody services, brokerage platforms, and tokenized stored-value facilities, while excluding non-financial digital asset businesses. The government also seeks to tackle debanking issues and plans to release draft legislation for public consultation this year. The proposed framework will apply to crypto exchanges, custody services, and specific brokerage platforms that facilitate trading and storage of digital assets. Businesses offering tokenized stored-value facilities, including some stablecoin issuers, will also be subject to licensing and compliance obligations. The government aims to reduce instances of debanking by major financial institutions through improved risk management and transparency within the sector. The Australian Securities and Investments Commission is expected to refine its guidance on digital assets with further updates to its Information Sheet 225.