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Australia Digital Assets Framework Bill Advances: Custody Classification at Heart of Draft Laws

Coinbase Australia director and APAC MD John O'Loghlen welcomed the Senate committee report on the Digital Assets Framework Bill but highlighted the persistent issue of debanking, which was referenced extensively throughout the Bill. The proposed legislation would integrate cryptocurrency platforms and custody providers into Australia's financial services framework, requiring AFSL within 6 months if passed.

High impact🇦🇺 AustraliaRegulationCustodyLicensingBTCETHCoinbase

APAC FINSTAB analysis

For APAC operators, this creates a high-impact signal around regulation, custody, licensing in Australia. Protocols/assets in scope: BTC, ETH. Named institutions or platforms: Coinbase. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

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