Australia Forces Big Tech to Block Scam Crypto Ads Amid Global Crackdown

Australia has introduced legislation requiring crypto platforms to operate under existing financial services laws. Assistant Treasurer Daniel Mulino presented the Corporations Amendment (Digital Assets Framework) Bill 2025 to Parliament on Wednesday.

✍️ UPDATE: AUSTRALIA JUST APPROVED A BILL TO REGULATE CRYPTO UNDER NORMAL FINANCE LAWS. pic.twitter.com/5kFywGYfdX

— Coinwaft (@coinwaft) November 27, 2025

The bill mandates crypto exchanges and custody providers obtain an Australian Financial Services License. Mulino told the House that Australia must keep pace with global digital asset developments to attract investment and create jobs.

Australia Targets Client Crypto Custody With New Safeguards

Mulino stated companies currently hold unlimited amounts of client crypto without financial law safeguards. He cited risks from scams and frauds like FTX that cannot be ignored.

The legislation focuses on companies holding crypto for customers rather than underlying technology. This approach allows the framework to evolve as new forms of tokenization and digital services emerge.

Currently, crypto platforms facilitating trading only register with the Australian Transaction Reports and Analysis Centre. That registry contains 400 exchanges, many inactive.

The bill amends the Corporations Act to create two new financial products: digital asset platforms and tokenized custody platforms. Both require an Australian Financial Services License.

The license registers platforms with the Australian Securities and Investments Commission. Only exchanges selling financial products like derivatives currently face this requirement.

Smaller platforms remain exempt from licensing. Those holding less than $5,000 per customer and facilitating under $10 million in annual transactions qualify for the exemption.

Anyone advising on, dealing in, or arranging crypto transactions will provide a financial service requiring licensing. Labor officials described the reforms as strengthening consumer protections while modernizing Australia’s regulatory system.

James Volpe, founding director of Melbourne-based Web3 education firm uCubed, characterized the bill as allowing early stage experimentation. He noted it avoids forcing every proof of concept through licensing from day one.

UAE Brings DeFi Under Full Regulatory Compliance

Meanwhile, the United Arab Emirates enacted Federal Decree Law No. 6 of 2025, bringing decentralized finance and Web3 activities under comprehensive regulatory oversight. The law took effect on September 16, 2025.

🚀 UPDATE: THE UAE WILL INTRODUCE A NEW LAW PLACING DEFI, WEB3, STABLECOINS, DEXS, AND BRIDGES UNDER CENTRAL BANK REGULATION BY SEPTEMBER 2026. pic.twitter.com/o2Soq3Mewp

— Coinwaft (@coinwaft) November 26, 2025

The UAE’s new law regulates financial institutions, insurance businesses, and digital asset activities. It establishes licensing requirements enforced by the Central Bank of the UAE for crypto payments and digital stored value operations.

Irina Heaver, founder of NeosLegal and local crypto lawyer, described the law as among the most consequential regulatory shifts for the region. Projects have until September 2026 to align systems with the new framework.

The law brings protocols, DeFi platforms, middleware, and infrastructure providers into regulatory scope. This applies when they enable payments, exchange, lending, custody, or investment services.

Protocols supporting stablecoins, real-world assets, decentralized exchange functions, bridges, or liquidity routing may require licensing. Heaver confirmed enforcement is already active across the UAE.

Penalties for unlicensed activity reach 1 billion dirhams, equivalent to $272.3 million. Criminal sanctions also apply to violations of licensing requirements.

Both jurisdictions represent significant moves toward comprehensive crypto regulation. Australia’s approach targets custody and exchange services while UAE extends oversight to decentralized protocols and infrastructure.