Australia’s Senate Economics Legislation Committee has reached its reporting deadline on the Corporations Amendment (Digital Assets Framework) Bill 2025, bringing the country closer to a formal licensing regime for crypto exchanges and digital asset service providers.
The committee was tasked with reviewing the bill after it was referred on 5 February 2026, with a reporting date set for 16 March 2026. The inquiry represents the latest stage in a regulatory process that has accelerated over the past year.
The bill itself was introduced to Parliament on 26 November 2025 by the Albanese Government. Assistant Treasurer Daniel Mulino framed the legislation as a way to “unlock innovation and safeguard” consumers in the digital asset sector.
What the Digital Assets Framework Bill Would Require
The proposed legislation would bring digital asset platforms and tokenised custody platforms under Australia’s existing financial services law. Operators would generally need to hold an Australian Financial Services Licence (AFSL) to continue operating.
This approach extends the regulatory perimeter of the Australian Securities and Investments Commission (ASIC) to cover crypto platforms, rather than creating an entirely new standalone regime. The framework builds on a Treasury policy statement released on 21 March 2025 that outlined plans to regulate digital assets and payment stablecoins through the existing financial services architecture.
By routing crypto oversight through the AFSL system, Australia is taking a different path from the European Union’s standalone Markets in Crypto-Assets (MiCA) regulation. The Australian model instead fits digital assets into pre-existing licensing categories, which could reduce lead time for implementation but may also require platforms to meet the same compliance standards as traditional financial service providers.
A Regulatory Push Built Over 12 Months
The Senate committee’s review did not emerge in isolation. Australia’s digital asset policy has moved through several formal stages since early 2025.
The Treasury policy statement in March 2025 set out the government’s intent to create a fit-for-purpose regime. Draft legislation followed via a public consultation announced on 25 September 2025, before the final bill was introduced to Parliament two months later.
Industry reception to the broader framework has been cautiously positive. Caroline Bowler, then-CEO of BTC Markets, described the government’s approach as “a pragmatic, grounded statement” in a company blog post responding to the initial Treasury announcement.
Other local firms, including DECA and MHC Digital, were also reported to have welcomed the direction of the policy, viewing it as a step toward regulatory clarity that could make Australia more competitive with jurisdictions that have already enacted crypto-specific rules.
Next Steps for the Framework
With the committee’s reporting deadline now reached, the next milestone is the government’s formal response to any recommendations the panel has made. If the committee has endorsed the bill, the legislation would proceed to further debate and a vote in the Senate.
The full committee report, once published, will be available through the Australian Parliament’s official committee page. That document will clarify whether the panel recommended passage of the bill as drafted, suggested amendments, or raised concerns that could delay the timeline.
For crypto businesses operating in Australia, the key variable remains the transition period. The bill’s passage would trigger a compliance window during which platforms would need to obtain or apply for an AFSL, a process that typically involves demonstrating adequate risk management, capital requirements, and consumer protection measures.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
