- Australian lawmakers have proposed a bill to modernize the regulation of digital assets in the country.
- The bill aims to align digital asset regulation with general financial laws, while establishing a clear regulatory oversight structure for the industry.
- The new legislation updates the powers of the Minister for Finance regarding certain digital asset platforms and activities.
The Australian House of Representatives introduced a bill earlier this week to establish a more coherent digital asset framework for the nation. The new bill complements the government’s efforts to update the digital asset regulatory regime and keep it in alignment with prevailing financial regulations.
Australia’s New Bill To Harmonize Digital Asset Regulation
The Corporations Amendment (Digital Assets Framework) Bill 2025 defines key terms related to digital assets, tokens, and platforms. It also tailors the prevailing financial services rules such that they cover the digital asset platforms.
“The Bill addresses the current regulatory gaps and consequent uncertainty regarding digital assets and the infrastructure and arrangements that support them in the context of Australia’s financial regulatory framework,” said the document.
“It aims to foster innovation, enhance competition and growth, and strengthen Australia’s position in the global digital asset ecosystem.”
According to the new legislation, digital assets can be split into two major categories. The first is assets that are like commodities or collectables, such as Bitcoin or non-fungible trading cards. These asset classes involve “no counterparty issuer with obligations to token holders.”
Secondly, bearer-like assets such as stablecoins or tokenized securities also qualify as digital assets under the proposed regulatory framework. In this case, the issuer can have obligations to holders under a separate agreement. For instance, holding such an asset linked to a company gives the holder rights to a share of the company’s assets.
New Framework Disperses Regulatory Authority
Australia looks to decentralize digital asset regulation across different agencies, since specific rules should apply to digital assets based on their peculiarities. The Australian Securities and Investments Commission (ASIC) will regulate digital asset activities pertaining to financial products and services, such as securities, derivatives, and Managed Investment Schemes.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) will regulate digital assets captured under the country’s anti-money laundering and counter-terrorism framework. Meanwhile, Intellectual Property Australia will oversee the assignment of intellectual property licenses, including tokenized trademarks, copyright licenses, etc.
Similarly, the Australian Competition and Consumer Commission (ACCC), the Australian Prudential Regulation Authority (APRA), and the Australian Communications and Media Authority will also regulate digital assets that fall within their scope.
Under the updated regulatory scheme, the Minister for Finance will be vested with new powers to regulate digital asset platforms. Among other provisions, the Minister now has powers to “extend or exempt the meaning of financial market or clearing and settlement facility for certain digital asset platforms.”
The Digital Asset Framework Bill was introduced to the House on Wednesday and is now at the second reading stage, where the main debate happens. In this detailed examination stage, the house will probably make amendments and send the legislation to the Senate for a review and vote before the Governor General’s approval.
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