Australian Senate Economics Legislation Committee released a report recommending the advancement of the "2025 Corporate Law Amendment (Digital Asset Framework)", which aims to bring crypto platforms and token custody services into the country's financial services regulatory system. The bill proposes to amend the "Corporations Act" and "ASIC Act", categorizing digital asset platforms and tokenized custody services as financial products, requiring operators handling customer tokens to obtain an Australian Financial Services License (AFSL) and comply with asset protection and disclosure requirements. If the bill passes, service providers without an AFSL will be granted a 6-month transition period to complete compliance adjustments. (Decrypt)

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