Australian Senate Committee Backs Major Crypto Regulation Bill

TheNewsCryptoPublished on 2026-03-16Last updated on 2026-03-16

Abstract

An Australian Senate committee has endorsed a significant crypto regulatory bill, the Corporations Amendment Bill 2025, which mandates that digital asset platforms obtain an Australian Financial Services Licence. The bill aims to enhance consumer protection by regulating intermediaries that hold customer assets or facilitate trading, rather than the underlying blockchain technology. It introduces clear definitions for digital tokens and applies existing financial services laws to crypto platforms, including rules for asset custody, transaction execution, and disclosure. The legislation, widely supported by industry groups, is part of Australia's broader effort to establish a comprehensive, technology-neutral regulatory framework aligned with international standards.

An Australian Senate committee has suggested passing a prominent crypto regulatory bill that would need financial licences for crypto platforms.

The report released on March 16 mentioned that the Senate Economics Legislation Committee said the Corporations Amendment Bill 2025 would depict a substantial enhancement in the regulation of digital assets in Australia.

The committee also highlighted that developing rules which are able to accurately recognise and control risk while being technology-neutral and compatible with international frameworks is a significantly difficult undertaking but deduced that the bill offers meaningfully robust safeguards for Australian consumers.

The legislation is part of Australia’s wider push to set up a comprehensive regulatory framework for crypto services. As per the proposal, businesses running digital asset platforms or tokenized custody platforms would be given similar treatment to other financial service providers and need to get an Australian Financial Services Licence, as per an official bill digest.

Instead of regulating the underlying blockchain technology, the bill aims at intermediaries that hold customer assets or facilitate trading, which regulators see as the prime source of potential risk in the ecosystem.

The bill also clarified prominent concepts like “digital tokens” and defined how current financial services laws apply to crypto platforms and rolled out rules governing asset custody, transaction execution, and disclosure needs for retail clients.

The Warm Welcome

The framework would also set up standards for safeguarding customer assets. Rolled out by the Treasury in November 2025, the bill passed its third reading in the House of Representatives on Feb. 4 before being referred to the Senate the next day.

The Senate Economics Legislation Committee has since looked after the bill as well as the industry feedback and released its report on March 16.

The committee also mentioned that the industry submissions warmly and widely welcomed the efforts of the government to modernise the regulatory framework of the country and make clearer rules for market participants.

The inquiry of the committee got submissions from a range of industry groups, comprising exchanges, fintech associations and law companies.

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TagsAustraliaCrypto BillSenate crypto

Related Questions

QWhat is the main purpose of the Australian crypto regulatory bill discussed in the article?

AThe bill aims to require financial licenses for crypto platforms, treating them similarly to other financial service providers and establishing a comprehensive regulatory framework for digital assets in Australia.

QWhich Australian legislative body has backed the crypto regulation bill and when was their report released?

AThe Senate Economics Legislation Committee backed the bill and released its report on March 16.

QWhat specific aspects of crypto platforms does the bill focus on regulating?

AThe bill focuses on regulating intermediaries that hold customer assets or facilitate trading, rather than the underlying blockchain technology, and it covers asset custody, transaction execution, and disclosure requirements for retail clients.

QHow did industry groups respond to the proposed crypto regulatory framework according to the committee?

AIndustry submissions warmly and widely welcomed the government's efforts to modernize the regulatory framework and create clearer rules for market participants.

QWhat key definitions does the bill provide regarding digital assets?

AThe bill clarifies concepts like 'digital tokens' and defines how current financial services laws apply to crypto platforms.

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