Australia has passed the Corporations Amendment (Digital Assets Framework) Bill 2025, clearing both houses of parliament. This marks the biggest step in Canberra's push to create a dedicated regulatory framework for digital assets.
The bill amends the Corporations Act and ASIC Act to regulate digital asset platforms and tokenised custody platforms. Its stated aim is to improve consumer protection, market integrity, and regulatory certainty.
The bill now awaits royal assent, the final step before becoming law. It is set to take effect 12 months after assent, with an additional transition period for businesses to comply.
The legislation requires crypto operators, including exchanges and custody platforms, to obtain an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC).
The Digital Economy Council of Australia (DECA), an industry group, praised the development. DECA stated, "For the first time, we have a legislative framework that directly addresses digital asset platforms and it provides long-awaited clarity for businesses, investors and regulators."
The government also tabled an Addendum to the Explanatory Memorandum, which includes additional detail about how the bill applies where digital tokens are factually controlled through multi-party computation (MPC). MPC is a cryptographic technology used to secure crypto wallets by splitting control between multiple parties.
The addendum clarifies that the law only applies to platforms that actually hold crypto for customers, rather than just providing technology that helps control it.