Coin World News, March 16: Australia's Senate Economic Legislation Committee released a report supporting legislative proposals to bring cryptocurrency platforms and custodial services within the country's financial services regime. The legislation will amend the Corporations Act and the ASIC Act to establish licensing and compliance frameworks for enterprises that hold or manage digital tokens on behalf of clients. Under the framework, digital asset platforms and tokenized custodial service operators typically need to hold an Australian Financial Services License, comply with asset protection standards, and meet disclosure requirements when accepting retail clients. The legislation aims to close regulatory gaps by subjecting intermediaries holding customer digital assets to existing financial services law, rather than regulating blockchain technology itself. If passed, it will provide a six-month transition period for providers not yet holding an AFSL.