First of Its Kind: Coinbase Gets ASIC Approval for Retail Crypto Derivatives

Coinbase Australia has gained an Australian Financial Services Licence (AFSL) that allows it to offer retail crypto derivatives. This makes it the first exchange in the country to meet upcoming regulatory rules for such products. The company plans to start with crypto and equity perpetual contracts and later expand to futures and options.

As per the blog post, the licence from the Australian Securities and Investments Commission (ASIC) lets Coinbase follow the same rules as traditional financial services. The post also stated, “Australia is a priority market for Coinbase — and today’s announcement is a testament to that commitment.”

This licence allows Coinbase to bring its “Everything Exchange” model to Australian customers while fully following local regulations.

A strategic move into Australia’s crypto market

Coinbase established its presence in the country as early as 2016 when it identified the keen interest among locals for crypto assets. In 2022, Coinbase had established a registered local entity with AUSTRAC, integrated PayID for fiat transfers, and embedded itself in local Web3 research through partnerships with RMIT University’s Blockchain Innovation Hub.

To steer this new regulated phase, the recently appointed Adam Judd, Coinbase Australia’s Chief Operating Officer, will oversee the licence. He previously managed complex products at CommSec and spent over 10 years at ASIC, giving him deep knowledge of regulatory and market rules. Under his leadership, Coinbase is expected to integrate its derivatives offerings smoothly into Australia’s financial system.

Regulatory implications

Coinbase’s AFSL approval arrives at a critical juncture for the local economy. At the start of the month, the Australian Parliament passed the Corporations Amendment (Digital Assets Framework) Bill 2025, a sweeping bill that formally brings crypto platforms under formal financial licensing rules.

By securing its AFSL before the new law’s 18-month transition period officially bites, Coinbase has carved out a distinct competitive moat against rivals who are still operating outside of traditional licensing structures.

The move into retail perpetuals will be closely watched by both market participants and policymakers as a test case for how high-risk crypto derivatives can be managed safely under traditional consumer protection rules.

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