Overview
- Coinbase, which on Wednesday received an Australian Financial Services Licence with retail derivatives approval from ASIC, said it is the first crypto exchange to win the licence directly from the regulator.
- The licence lets Coinbase plan a phased push beyond crypto, starting with crypto and equity perpetuals before adding futures, options and direct stock trading, with payments to follow.
- The approval lands a week after Parliament passed the Digital Assets Framework bill, which will require larger exchanges and custodians to hold an AFSL, the same licence used by brokers, after royal assent and an 18‑month transition.
- Industry leaders praised the clarity while advocates warned that debanking of crypto firms and broad terms such as “digital token” and “factual control” could still create hurdles.
- Coinbase says it will add senior hires in Australia across compliance, legal, marketing and operations, and the licence could help it strike deals with banks and pension funds that need clear oversight before partnering.