Crypto Exfaces Sweeping Licensing Overhaul in Australian Draft Law
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The Australian crypto industry is facing a significant regulatory shift with the Treasury’s draft legislation to bring digital asset platforms under the existing financial services licensing regime.
The proposal would amend the Corporations Act to define Digital Asset Platforms (DAPs) and Tokenised Custody Platforms (TCPs) as new financial products.
This subjects crypto exchanges, brokerages, and tokenized asset custodians to the same regulatory framework as traditional financial intermediaries like portfolio managers.
According to the Treasury, this move is a direct response to failures in the digital asset sector, aiming to align the industry with established standards for operational resilience and consumer protection.
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