Australia has introduced its first regulation framework for encryption assets, with fines starting at one million dollars for violations.

[Block Rhythm] Australia is finally going to take “real action” on the encryption industry.

On November 27, the Australian Treasury and the Department of Financial Services jointly submitted the “2025 Corporations Act Amendment ( Digital Assets Framework ) Bill” to Parliament. This is the first complete regulatory system in Australian history aimed at the custody of digital asset business for clients.

In simple terms, the bill divides platforms into two main categories: one category is digital asset platforms, which help you store coins, transfer coins, buy and sell, and even stake; the other category is tokenized custody platforms, which specialize in moving real assets like bonds, real estate, and commodities onto the blockchain. Both types of platforms must obtain an Australian financial services license to operate.

The regulatory details are quite practical - the platform must comply with the custody and settlement standards set by the Australian Securities and Investments Commission ( ASIC ). However, smaller platforms have exemptions: if a single client's assets are less than $5000 and the annual trading volume is below $10 million, they can skip the full licensing process.

The Australian government expects this framework to release $24 billion in productivity gains each year. As for those who do not comply? Fines start directly at a million dollars. It seems they are serious this time.