In brief
- The country’s Senate Economics committee has recommended the bill proceed, saying it would modernize digital-asset oversight and close gaps in consumer protection.
- The framework would classify digital-asset platforms and tokenized custody services as financial products under existing financial-services law.
- Operators handling client tokens would generally need an Australian Financial Services Licence, with a six-month transition period after the rules begin.
An Australian Senate committee has handed down its report on the government’s proposed digital-asset regulatory framework, backing legislation that would bring crypto platforms and custody services under the country’s financial-services regime.
The Senate Economics…
