Australian Senate Committee Supports Digital Asset Regulation Bill; Crypto Trading Platforms May Need to Apply for Financial Licenses

SmartContractAuditor · 2026-03-16T10:01:25+00:00

The Australian Senate Economics Legislation Committee has recommended passing the Digital Assets Framework Bill, which will incorporate digital asset platforms into the financial regulatory system and require relevant companies to apply for financial services licenses. This will enhance regulation of the digital asset industry and protect consumers, while maintaining technological neutrality. The bill has been approved by the House of Representatives and is now under review in the Senate, with an expected transitional period of six months.

SmartContractAuditor

2026-03-16 10:01:25

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Odaily Planet Daily reports that the Australian Senate’s Economic Legislation Committee has recommended passing the “Corporations Amendment (Digital Assets Framework) Bill 2025.” The bill proposes to include crypto asset platforms within the existing financial regulatory system and requires relevant companies to apply for an Australian Financial Services License (AFSL).

The committee stated in its report that the bill will strengthen the regulatory framework for Australia’s digital asset industry and provide higher protection for consumers. It also aims to keep the rules technologically neutral and align as much as possible with international regulatory systems. According to the bill, companies operating digital asset trading platforms or providing token custody services will be considered financial service providers, required to obtain a license, and comply with relevant regulations.

The bill was introduced by the Australian Treasury in November 2025, passed the House of Representatives in a third reading on February 4, 2026, and is currently under review in the Senate. The committee noted that most industry organizations support establishing a clearer regulatory system, but some opinions believe the bill’s definitions of “digital tokens” and “actual control” are too broad, potentially affecting certain infrastructure or non-custodial service providers. If the bill is ultimately approved, relevant companies will have a six-month transition period to complete their license applications. (The Block)

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