ASIC Gives Final Warning to Crypto Businesses: Licence Deadline Looms

Australia's ASIC has issued a final warning to digital-asset businesses relying on its temporary no-action relief. The regulator wants firms to have applied for or varied an Australian Financial Services licence by September 30, or risk operating in breach of financial services law from October 1.

Firms that need a licence but miss the deadline could face civil and criminal penalties, including fines of up to 10% of annual turnover. ASIC has recorded more than 45 licence applications since it updated its guidance last October.

The new statutory framework governing digital-asset businesses is due on April 9, 2027.