Australia is poised to introduce the 'Digital Assets Framework Bill,' a landmark regulatory law targeting cryptocurrency exchanges and custody platforms. This move signifies a major step towards bringing clarity and security to the Australian digital asset landscape. According to Decrypt, the bill aims to comprehensively regulate cryptocurrency companies that hold customer assets, marking the first time such stringent measures have been proposed. A key component of the framework involves imposing substantial fines, potentially reaching millions of dollars, on firms that fail to adequately safeguard customer assets. This provision seeks to protect investors from potential losses due to negligence or security breaches. The introduction of this bill reflects a growing global trend towards regulating the cryptocurrency sector. As digital assets become more mainstream, governments worldwide are grappling with the need to balance innovation with investor protection and financial stability. This new regulation is expected to provide a more secure environment for Australians engaging with cryptocurrencies and foster trust in the digital asset market. ```