Australia’s Senate Backs Crypto Regulation: What It Means for Investors

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Australian Senate panel backs crypto regulation frameworkMarkets

What to know:

  • An Australian Senate committee has endorsed a bill that would bring cryptocurrency platforms and custody providers under the country’s existing financial services framework.
  • The proposed Corporations Amendment (Digital Assets Framework) Bill 2025 would create a licensing and compliance regime for digital token managers by amending the Companies Act and the ASIC Act.

An Australian Senate committee supports new laws that would bring cryptocurrency platforms and companies storing digital assets under the existing rules for financial services.

A new bill proposed to update the rules for digital assets, like cryptocurrencies, was reviewed by the Senate Economics Legislation Committee. In a report released Monday, the committee stated the bill would bring digital asset oversight up to date while still protecting consumers using the same safety measures as traditional financial markets.

This plan aims to regulate businesses that manage digital tokens by updating existing laws – specifically the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001 – to include a licensing and compliance system.

The proposed rules focus on companies that manage digital assets for customers, applying existing financial regulations to these firms rather than trying to control the blockchain technology itself. If enacted, companies without the necessary license would have six months to get authorized and follow the new regulations.

As a researcher following the Australian crypto landscape, I’ve noted that any crypto exchange wanting to operate within the country must first register with AUSTRAC, which is Australia’s financial intelligence unit. This registration, classifying them as a digital currency provider, is a prerequisite before they can begin offering exchange services.

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2026-03-16 09:43