Coinbase has obtained an Australian Financial Services Licence, The Block reported on April 8. The approval allows Coinbase\'s Australian unit to offer retail derivatives trading services. It plans to first launch perpetual futures products tied to cryptocurrencies and stocks, and later add futures and options. The licence subjects the unit to the same conduct, disclosure, governance and consumer protection requirements as existing financial institutions.

Australia\'s parliament has passed a bill requiring cryptocurrency exchanges and custody providers to obtain an Australian financial services licence and bringing digital asset and tokenised custody platforms under the country\'s licensing framework. The bill will take effect 12 months after royal assent and includes an additional transition period for compliance. An explanatory memorandum says the law applies only to platforms that actually hold customers\' cryptoassets, not those providing only control-assisting technology.