Australia Implements Comprehensive Regulation of Crypto Services
Date: 2025-11-28 Author: Gabriel Deangelo Categories: IN WORLD
Australia has adopted legislative changes aimed at strengthening oversight of crypto exchanges and companies that store clients' digital assets. Under the new law, organizations are required to obtain an Australian Financial Services License (AFSL) and operate under the supervision of the Australian Securities and Investments Commission (ASIC). This is the first step toward creating a comprehensive regulatory system for the crypto industry in the country.
Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino introduced amendments to the Corporations Act, dubbed the "Digital Asset Framework" 2025. The bill passed its first reading in Parliament and is now entering its second stage of debate. The ministers noted that the government attaches significant importance to the development of digital assets, seeing blockchain and cryptocurrencies as new opportunities for the Australian economy and business.
The reform envisages the introduction of two new license categories: "digital asset platform" and "tokenized depository platform." These measures take into account the different operating models of companies that manage or transfer user funds. The main goal is to increase the transparency of services and guarantee the protection of client funds.
The government estimates that improved regulation could increase the country's economic efficiency by up to $24 billion annually, while simultaneously strengthening public trust in private crypto services. The Ministry of Finance began consultations on the project back in September, and Mulino emphasized that the new rules are part of the government's strategy for the development of digital assets.
ASIC has already required companies working with cryptocurrencies to obtain financial services licenses by June 30, 2026. This creates a legal basis for comprehensive oversight and mitigation of risks for investors.
Thus, Australia is taking a decisive step toward creating a secure and transparent crypto ecosystem. The new bill aims to protect users, increase trust in digital assets, and stimulate the industry's development, which could open up new prospects for the country's economy and financial market.
