Back

Australia Proposes Digital Asset Regulation Covering Exchanges and Custodians

Australia’s newly tabled bill seeks to license crypto platforms under ASIC oversight, aiming to strengthen consumer protection and enhance trust in the nation’s digital asset market.

Fact Check
The evidence provided offers overwhelming and consistent support for the statement. All ten sources, ranging from high-authority legal firms (Piper Alderman, Norton Rose Fulbright) and legal news aggregators (Lexology, Mondaq) to financial news outlets (Yahoo Finance, Capital Brief) and industry-specific blogs, corroborate that the Australian government is actively moving to regulate the digital asset sector. The sources consistently reference specific government actions, such as the release of a 'consultation paper,' 'draft legislation,' and a 'bill,' all of which directly support the claim that regulations have been 'proposed.' Furthermore, the sources explicitly identify 'exchanges' and 'custodians' as the primary entities targeted by these proposed rules, which would bring them under a new licensing framework (the Australian Financial Services Licence or AFSL regime) overseen by the Australian Securities and Investments Commission (ASIC). There are no contradictions among the sources. The sheer volume, high credibility, and uniform message of the evidence make the statement highly likely to be true.
Summary

Australia’s government has introduced the 2025 Corporations Amendment (Digital Assets Framework) Bill to license and regulate crypto platforms under the Australian Securities and Investments Commission. The legislation targets exchanges, custodians, and tokenized asset services, mandating strict consumer protection standards and imposing multimillion-dollar penalties for violations. It expands on prior proposals by requiring licensing across the sector, with certain exemptions for smaller platforms, and aims to boost market confidence and economic productivity, estimated at $24 billion annually.

Terms & Concepts
  • Digital asset platforms: Online services or exchanges that enable the trading, transfer, and management of cryptocurrencies or other digital assets.
  • ASIC (Australian Securities and Investments Commission): The Australian government body responsible for regulating financial services, markets, and companies.
  • Tokenized custody platforms: Services that hold and safeguard tokenized assets—digital representations of real or virtual items—on behalf of clients.