Australia Mandates Licensing for Crypto Exchanges in $24B Regulatory Overhaul

• Mandate: Crypto exchanges and custodians must now hold an Australian Financial Services Licence (AFSL).
• Economy: The government projects the clear framework will unlock $24 billion in annual productivity gains.
• Exemption: Startups with under $10 million in volume can operate in a “sandbox” without full licensing.

The Australian government has formally moved to bring the cryptocurrency sector inside the federal regulatory perimeter. Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino introduced the Corporations Amendment (Digital Assets Framework) Bill 2025 on Wednesday, establishing a mandatory licensing regime for digital asset platforms.

The legislation amends the Corporations Act to create two distinct financial product categories. The first covers Digital Asset Facilities, entities that hold assets for customers, including exchanges and custodi…

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