Australia’s Parliament has passed legislation that will bring digital asset platforms and tokenised custody providers under the country’s financial services licensing regime.

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Last year, the Australian Securities and Investments Commission clarified how existing laws apply to digital assets. The guidance classifies stablecoins, wrapped tokens, and tokenised securities as financial products. Many providers must now hold a licence. ASIC introduced a no-action position until 30 June 2026 for firms making genuine efforts to comply.

New Law Targets Exchanges, Custody Providers

The Corporations Amendment Bill 2025, known as the Digital Assets Framework, cleared both houses, according to parliamentary records. It was introduced in November 2025 and amends the Corporations Act and ASIC Act. Its stated aim is to “improve consumer protection, market integrity and regulatory certainty.”

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The legislation now awaits royal assent, the final step before it becomes law. It is scheduled to take effect 12 months after assent, with a transition period for businesses to comply.

Under the bill, operators of crypto exchanges and custody platforms will be required to obtain an Australian Financial Services Licence from ASIC.

ASIC Targets Crypto Products Under Regulation

The Federal Court of Australia recently fined Binance Australia Derivatives AU$10 million after the company acknowledged misclassifying a majority of its local clients. The misclassified accounts incurred AU$8.66 million in trading losses and paid AU$3.89 million in fees.

The case forms part of broader regulatory attention in Australia. ASIC has indicated that certain crypto products may fall under existing financial regulation . Other firms have also faced fines. Bit Trade, the local operator of Kraken, was fined AU$8 million in December 2024 over a leveraged “margin extension” product.

Internationally, the European Securities and Markets Authority has suggested that crypto perpetual contracts could be treated as CFDs. In the United States, the Commodity Futures Trading Commission is considering allowing broader access to crypto derivatives for retail traders.