ASIC Warns Unlicensed Crypto Firms of Fines and Penalties
The Australian Securities and Investments Commission (ASIC) has issued a warning to unlicensed crypto firms operating in Australia. Companies relying on temporary regulatory relief have until September 30 to apply for an Australian Financial Services license or risk facing fines up to 10% of their annual turnover.
The regulator has been providing transitional relief to businesses that require authorization but have not yet met the conditions, allowing them to continue operating while they undergo the licensing process. However, this relief will end on October 1, and companies that fail to meet the requirements may face civil and criminal penalties.
Since updating its guidance in October 2025, ASIC has received over 45 digital asset-related license applications. The regulator has also extended the relief period from June 30 to September 30, allowing more time for businesses to apply for a license or make changes to their existing one.