Fintech + payments + crypto in Victoria

Major banks must provide CDR Banking + Action Initiation (2026)

CDR Action Initiation lets accredited recipients initiate payments + actions on consumer behalf.

Consumer Data Right (CDR) participant accreditation + compliance

Banking, energy and (soon) non-bank lending data sharing — accredited participants must comply with privacy safeguards.

CDR Energy sector — phased

Energy retailers + distributors must share data via CDR.

Payment Service Provider (PSP) licensing reform — implementation pending

Treasury reform of payments licensing to capture digital wallets + Buy Now Pay Later + stored value.

Comply with Stored Value Facility rules (banking exception)

SVF providers must operate within APRA + Treasury rules on purchased payment facility regulation.

Comply with CDR Banking (Open Banking) — major + non-major ADIs

Banking data holders must share consumer data with accredited recipients on consumer consent.

Crypto Asset Secondary Service Provider (CASSPr) licensing reforms

Treasury consultation 2024 on bespoke crypto licensing — separate from AFSL.

Crypto Asset Platform licensing (Treasury reforms 2024-2025)

Treasury scoping CASP regime for digital asset platforms.

Crypto-Asset Reporting Framework (CARF) — implementation 2026-2027

AU adopts the OECD CARF for crypto reporting; reporting expected from 2027, first international exchange ~2028 (per Dec 2025 MYEFO).

Stablecoin payments licensing — Treasury reforms (in scoping)

Treasury reforms scoping payment stablecoin licensing under PSP regime.

Comply with the ePayments Code

Voluntary but industry-standard code covering electronic transaction terms, mistaken internet payments, and unauthorised transactions.