Australia Proposes New Cryptocurrency Platform Regulation Bill, Introducing Concepts of Digital Asset Platforms and Tokenized Custody Platforms

ChainCatcher news, the Australian Treasury and the Department of Financial Services have submitted the "2025 Corporations Amendment (Digital Asset 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 categories of financial products: digital asset platforms and tokenized custody platforms, both of which require an Australian Financial Services License. Digital asset platforms cover facilities where operators hold clients' crypto assets and provide transaction functions such as transfers, buying and selling, or staking; tokenized custody platforms deal with real-world assets such as bonds, real estate, and commodities. Platforms must comply with the custody and settlement standards of the Australian Securities and Investments Commission (ASIC). Platforms where each client holds assets of less than $5,000 and annual transaction volume is below $10 million are exempt from full licensing requirements. The Australian government stated that the bill could unlock $24 billion in annual productivity gains, and non-compliant companies will face fines of millions of dollars.