The Australian Senate Economics Legislation Committee released a report recommending the advancement of the "Corporations Law Amendment (Digital Assets Framework) 2025," which aims to bring cryptocurrency platforms and token custody services under the country's financial services regulatory framework. The bill proposes amendments to the Corporations Law and the ASIC Act, classifying digital asset platforms and tokenized custody services as financial products, and 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)