Treasury Laws Amendment (Payments System Modernisation) Bill 2025

Amends the Payment Systems (Regulation) Act 1998 to: expand the coverage of the payments regulatory framework to include new and emerging payment systems and participants; provide for new ministerial powers to designate payment systems when it is in the national interest to do so; and introduce civil penalty provisions and enforceable undertakings, and increase maximum penalties for certain criminal offences. Also makes consequential amendments to 4 other Acts.

Summary from the official bill homepage.