Where things stand
On 16 October 2023, Treasury released a consultation paper proposing a licensing regime for digital asset intermediaries under the existing financial services framework. The proposal would require certain platforms to hold an Australian financial services licence and meet minimum standards relating to custody, trading, staking, and tokenisation. The consultation closed on 1 December 2023.
On 21 March 2025, the Government released:
Its response to the Board of Taxation’s review, confirming that existing tax laws apply to digital assets and that the Australian Tax Office will issue guidance to improve certainty.
A policy statement titled “Developing an Innovative Australian Digital Asset Industry”, outlining plans to regulate digital asset platforms and payment stablecoins.
What’s next
The Government has stated that it plans to release exposure draft legislation for public consultation in 2025, covering a:
licensing framework for digital asset platforms
a regulatory framework for payment stablecoins under the stored-value facility regime
a review of the enhanced regulatory sandbox.
However, as of August 2025 and no such draft legislation has been released.
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