Australian Senate Committee Backs Crypto Regulation Bill: Exchanges to Apply for Financial License

BlockBeats News, March 16th, the Australian Senate Standing Committee on Economics has recommended the passage of the "Corporations Amendment (Digital Assets Framework) Bill 2025," which would require cryptocurrency exchanges to obtain a financial license and be included in the existing financial regulatory system.

The committee stated in its report that the bill would significantly strengthen Australia's regulatory framework for the digital asset industry, provide stronger protection for consumers, strive to remain technologically neutral in rule-making, and be compatible with international regulatory frameworks.

According to the bill, businesses operating digital asset trading platforms or tokenization custody platforms will be considered financial service providers and will need to apply for an Australian Financial Services License (AFSL). Regulation will focus on intermediaries holding user assets or providing transaction matching, rather than on the blockchain technology itself.

The bill will also legally define key concepts such as "digital tokens" and establish rules for asset custody, trade execution, disclosure of information, and customer asset protection. The bill was introduced by the Treasury Department in November 2025, passed the House of Representatives on February 4, 2026, and is currently under Senate review.

The committee stated that the majority of industry institutions support the government in establishing a clearer regulatory framework. However, some opinions have pointed out that the bill's definitions of "digital tokens" and "actual control" are broad, which may impact infrastructure providers or non-custodial services. If the bill is ultimately passed, relevant businesses will have a 6-month transition period to complete the licensing application.