TechFlow news, November 27 — According to Decrypt, Australian Treasurer Jim Chalmers and Minister for Financial Services Daniel Mulino introduced the Corporations Amendment (Digital Assets Framework) Bill 2025 to parliament on Wednesday, establishing the country's first comprehensive regulatory framework for businesses holding digital assets on behalf of clients.
The bill introduces two new financial product categories under the Corporations Act: digital asset platforms and tokenized custody platforms, both requiring an Australian Financial Services Licence. Digital asset platforms include facilities where operators hold clients' crypto assets and provide transaction functions such as transfers, buying, selling, or staking; tokenized custody platforms handle real-world assets such as bonds, real estate, and commodities.
Platforms must comply with custodial and settlement standards set by the Australian Securities and Investments Commission (ASIC). Platforms holding less than USD 5,000 per client and with annual transaction volumes below USD 10 million may be exempt from full licensing requirements. The government estimates the bill could unlock USD 24 billion in annual productivity gains, while non-compliant firms face penalties of millions of dollars.
