Australia dey require AFSL licences for crypto exchanges and tokenised custody platforms

Di Australian government don bring Corporations Amendment (Digital Assets Framework) Bill 2025 wey dey force digital asset platforms and tokenised custody platforms make dem get Australian Financial Services Licence (AFSL). The bill come define two regulated types: digital asset platforms wey dey custody tokens for clients, and tokenised custody platforms wey dey issue single digital token wey represent underlying non-monetary assets. Firms wey get licence must follow conduct standards (make dem work efficient, honest and fair), no put misleading or unfair contract terms, show how dem dey keep customer assets, provide dispute resolution and compensation ways, and follow settlement, custody and disclosure rules. Dem put exemption for platforms wey dey hold below AUD 5,000 per customer and process less than AUD 10 million annually; non-custodial staking no include, but custodial staking dey under the regime. Government dey project up to AUD 24 billion a year productivity gains from digital finance and dem propose 18-month phased compliance window (12 months preparation + 6 months transition for earlier reports). Industry response na generally positive — firms dey happy say rules clear and e align with financial services — but experts dey call for coordination between ASIC, AUSTRAC and ATO and make implementation careful so small operators no too suffer with compliance cost. The bill still come after ASIC tighten enforcement against scams and phishing. For traders: the reform go raise compliance costs for centralized custody/exchange providers, fit reduce regulatory risk and scams over time, and fit favour regulated platforms over unregulated alternatives during the transition.