Australia passes crypto regulation requiring exchanges to obtain financial services licenses

Exchanges and custody platforms must obtain financial services licenses within six months under the new framework. What to know : Australia has passed its first comprehensive digital-asset law, requiring crypto exchanges and custody providers to obtain Australian Financial Services Licenses. The legislation creates two new regulated categories—digital asset platforms and tokenized custody platforms—bringing them under the same core rules that apply to brokers and fund managers. Policymakers aim to reduce risks such as commingling and misuse of customer assets while positioning Australia to capture a larger share of an estimated A$24 billion annual digital finance opportunity.