Overview
- Coinbase received an Australian Financial Services Licence from ASIC that authorizes it to offer regulated retail derivatives, starting with crypto and equity perpetual contracts.
- The company says it will expand over time to futures, options, direct stock trading and payments as it builds a broader “Everything Exchange” in Australia.
- Coinbase says it is the first crypto exchange to secure an AFSL directly from the regulator, a milestone that strengthens talks with major banks and pension-sector partners.
- The approval follows Parliament’s April 1 passage of the Digital Assets Framework Bill, which will require larger exchanges and custodians to hold an AFSL after royal assent and a transition period.
- AFSL holders must meet the same standards as traditional brokers, including client asset safeguards and clear disclosures, and industry groups still warn of debanking and broad legal definitions that could pull in software developers without further guidance.