coindesk.com
The Australian government announced on Thursday that it sent a digital assets bill to parliament aimed at unlocking innovation and safeguarding investors.
The Corporations Amendment (Digital Assets Framework) Bill 2025 introduces clear, enforceable rules for businesses that hold digital assets on behalf of consumers, the Ministry of Financial Services said in an official statement.
The bill aims to mark the end of the country's long regulatory vacuum for crypto platforms platforms and avoid last cycle’s offshore collapses such as FTX and Celsius, which wiped out billions leaving thousands of Australians without practically no legal recourse.
The bill brings all crypto and blockchain companies into the financial system to ensure they meet the same standards of transparency, integrity and consumer protection that apply across the sector, the ministry added.
“Australia could capture up to $24 billion a year in productivity and cost savings thanks to unlocking digital finance innovation,” the joint statement reads.
The bill states that crypto platforms will be required to hold an Australian Financial Services License and their obligations will be tailored to reflect the unique structure and risk profile of these types of platforms.
Smaller, low‑risk platforms holding less than $5,000 per customer and facilitating less than $10 million in transactions per year will be exempt, consistent with the approach for other financial products like non‑cash payment facilities, the Bill explains.