Australia has passed legislation creating its first comprehensive regulatory framework for digital assets. The Corporations Amendment (Digital Assets Framework) Bill 2025 includes companies that hold digital assets on behalf of customers and hold real-world assets. Operators of both must obtain an Australian Financial Services License from the government. The law aims to reduce risks such as commingingling, insolvency, and misuse of assets. It also includes requirements to safeguard client assets, provide standardized disclosures, avoid misleading conduct, and maintain dispute resolution and compensation systems.