YEREVAN (CoinChapter.com) — Australia’s Albanese government, led by Prime Minister Anthony Albanese, confirmed plans to introduce new rules under a proposed Treasury crypto framework. The rules aim to regulate crypto exchanges, custody providers, and some brokerage firms.
Announced on March 21, the framework brings these services under Australia’s financial services laws. Providers must follow rules for asset protection, hold minimum capital, and apply for an Australian Financial Services Licence. The Australia crypto law and regulation will not apply to the entire crypto sector.
According to the Treasury, small or startup crypto businesses that fall below certain thresholds are exempt. Developers creating blockchain software or digital assets that don’t qualify as financial products are also exempt. The Albanese government began industry consultations in August 2022 to shape the draft law.
Stablecoins Australia to Be Treated as Stored-Value Facilities
The framework classifies stablecoins Australia under the Payments Licensing Reforms as stored-value facilities. This applies to payment stablecoins used for purchases or transfers. However, not all tokens will fall under these new rules.
Some stablecoins and wrapped tokens will not fall under the new regulations. The Treasury stated that platforms facilitating secondary market trading of these exempt tokens will not be classified as markets. As a result, the new rules will have a limited impact on trading activities involving certain digital assets.
This clarification helps define which assets fall under the Australia crypto regulation and which remain outside its scope.
Albanese Government Links Crypto Legislation 2025 to Election
The Albanese government plans to publish crypto legislation 2025 as a draft for public consultation. The timing comes ahead of a federal election, expected by May 17.
Poll results from YouGov, dated March 20, show both major parties—Labor and the Coalition—neck and neck. The Coalition, led by Peter Dutton, had earlier pledged to prioritize crypto rules if elected.
While the draft has not yet been released, the government confirmed it will allow feedback from stakeholders before the law is finalized. Any change in leadership could affect how the Treasury crypto framework progresses.
Crypto Debanking to Be Reviewed With Major Banks
The Albanese government also promised action on debanking. It said it would work with Australia’s four largest banks to understand why some crypto businesses are losing access to banking services.
This step is part of the broader Australia crypto law and regulation plan. Officials said they want to understand the extent of debanking and how it affects the local crypto sector.
In addition, 2025 will see a central bank digital currency review and the launch of an Enhanced Regulatory Sandbox. This setup will allow businesses to test financial products without a full license, as long as they meet the conditions.
Industry Responds to Australia Crypto Regulation
Caroline Bowler, CEO of BTC Markets, said the Australia crypto regulation includes sensible areas of reform. However, she added that more details are needed on capital adequacy and custody requirements.
“We need to ensure that these requirements aren’t overly burdensome for business investment in Australia,”
Bowler told.
Jonathon Miller, managing director at Kraken Australia, noted the country needs clear rules.
“We believe that by establishing a clear crypto regulatory framework and mitigating problems like debanking, government can remove the barriers hampering growth in the Australian economy,”
he said.
The Albanese government has not confirmed the exact timeline for the release of the draft. The crypto legislation 2025 will proceed alongside electoral developments.
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