An Australian Senate committee has backed a bill that would bring crypto platforms and custody providers under the country’s existing financial services system. The proposed law would create a licensing and compliance framework for firms that manage digital assets for customers, while leaving the underlying blockchain technology outside direct regulation.

Meanwhile, the bill remains before the Senate, but has not yet become law.

Australia Backs New Crypto Regulation Framework

Australia is moving forward with new rules for the crypto industry. On March 16, the Senate Economics Legislation Committee released a report supporting the Corporations Amendment (Digital Assets Framework) Bill 2025. Lawmakers say the bill aims to modernize how…