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Australian Financial Services

Definition ∞ Australian Financial Services refers to the range of financial activities and products regulated within Australia. This term covers services like providing financial advice, dealing in financial products, and operating a managed investment scheme. The Australian Securities and Investments Commission (ASIC) oversees these services, ensuring adherence to consumer protection and market integrity laws. Entities providing these services must typically hold an AFS license.
Context ∞ The regulation of Australian Financial Services is presently extending to encompass digital assets, creating ongoing discussions about classification and oversight. News reports frequently address how traditional financial service definitions apply to cryptocurrency trading platforms, digital wallets, and tokenized assets. Regulators are working to establish a clear framework that supports innovation while protecting investors in the rapidly changing digital asset environment.

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→AFS License Requirement

Australian Parliament Mandates Licensing for Digital Asset Platforms and Custodians

The Bill mandates AFS licensing for digital asset platforms, fundamentally reclassifying core crypto services under established financial product law.