Australia Unveils Digital Assets Bill to Prevent Future Crypto Failures

Australia has introduced a new Digital Assets Framework Bill aimed at modernizing the country’s financial system and preventing failures like FTX and Celsius. The bill proposes clear rules for crypto custody and trading platforms, requiring most providers to obtain an Australian Financial Services Licence while offering exemptions for smaller, low-risk operators. The legislation seeks to close long-standing regulatory gaps, improve transparency, and strengthen consumer protection across the digital-asset sector.