Australia Seriously Working on Crypto Regulation, Ready to Become a Big Player in the Digital World
The Australian government has just announced an ambitious plan to regulate and integrate digital assets into the national economic system.
According to Coinvestasi, this move is inspired by progressive policies already implemented by the European Union and Singapore.
In an official document released by the Australian Treasury Department, the government affirmed its commitment to adopting technologies such as tokenization, Real World Assets (RWA), and Central Bank Digital Currency (CBDC) as part of its efforts to modernize the country’s financial system.
Although there are no immediate plans to launch a retail CBDC, the government sees great potential in implementing a wholesale CBDC and building tokenization-based settlement infrastructure to enhance market efficiency and broaden access to various types of assets.
Asset Tokenization Trials
In the near future, the Treasury Department, in collaboration with the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA), will conduct trials using tokenized currencies, including stablecoins, for settlement in tokenized wholesale markets.
The goal is to increase automation, reduce settlement risks, and cut costs, while expanding access to assets that were previously considered illiquid.
Introduction of Digital Asset Platforms (DAP)
The government is also introducing a new licensing framework for digital asset trading platforms, referred to as Digital Asset Platforms (DAP).
DAP operators will be required to meet financial services sector standards, such as capital adequacy and information transparency, and must use third-party custodians to safeguard customer assets.
Addressing the De-Banking Issue
In response to growing concerns around de-banking—the withdrawal of banking access from crypto industry players—the government has pledged to address this issue through the DAP licensing regime.
It is expected that the relationship between digital asset industry players and the banking sector will improve with more objective risk management practices in place.
This initiative aligns with discussions in the United States, including the proposed FIRM Act by Senator Tim Scott, which aims to prohibit regulators from citing “reputational risk” as grounds to deny banking services to crypto businesses.
These measures reflect Australia’s serious intention to position itself as a leading player in the global digital asset industry by building a secure, transparent, and innovative ecosystem for all stakeholders.
