Svmuu News: The Australian Senate Economics Legislation Committee has recommended passing the "Corporations Amendment (Digital Assets Framework) Bill 2025." This bill aims to bring crypto asset platforms under the existing financial regulatory framework and require relevant businesses to apply for an Australian Financial Services License (AFSL).
The committee stated in its report that the bill will strengthen the regulatory framework for Australia's digital asset industry, provide a higher level of protection for consumers, maintain technological neutrality in its rule design, and align as much as possible with international regulatory systems. According to the bill's content, businesses operating digital asset trading platforms or providing token custody services will be considered financial service providers, requiring them to obtain a financial license and comply with relevant regulatory requirements.
The bill was proposed by the Australian Treasury in November 2025 and passed its third reading in the House of Representatives on February 4, 2026. It is currently under review in the Senate. The committee noted that most industry bodies support establishing a clearer regulatory system, but some opinions suggest that the bill's definitions for concepts like "digital tokens" and "actual control" are relatively broad, which could potentially impact some infrastructure or non-custodial service providers. If the bill is ultimately passed, relevant businesses will be granted a 6-month transition period to complete their license applications. (The Block)