TechFlow, September 25 — According to Decrypt, Australian Assistant Treasurer Daniel Mulino announced on Wednesday that the government has released a draft regulatory bill for digital asset platforms. The bill extends financial services laws to cover crypto businesses, requiring major crypto platforms to obtain an Australian Financial Services Licence (AFSL). Licensed entities will be required to manage conflicts of interest, provide dispute resolution systems, and meet minimum custody and settlement standards.
The bill also establishes rules for emerging areas such as tokenized custody platforms, public token infrastructure, and staking, to keep pace with industry development. Small-scale enterprises and businesses not involved in financial services may be exempted.
