Australia’s new framework doesn’t just regulate — it defines responsibility. Platforms that directly hold user assets will face stricter oversight, while technologies like multi-party computation (MPC), which distribute control across multiple parties, are treated differently if they don’t actually custody funds.

This distinction matters. It encourages innovation in security while ensuring that companies holding user assets are accountable. For users, it means better protection. For builders, it creates a clearer path to operate legally — something the crypto industry has been waiting for.