Australia Warns Unlicensed Crypto Firms: Up to 10% Revenue Fines Loom

Australia's financial regulator has issued a stern warning to unlicensed cryptocurrency firms operating in the country. The Australian Securities and Investments Commission (ASIC) stated that companies could face fines of up to 10% of their annual revenue if they fail to meet licensing requirements.

The warning comes as ASIC extends a temporary relief period for crypto businesses until the end of September. Firms that require an Australian Financial Services Licence must complete new applications or amend existing ones by this deadline.

From October 1, companies that continue operating without meeting the licensing requirements could be deemed in breach of Australia's financial services law. This exposes them to civil and criminal penalties, according to ASIC.

Since revising its guidance for crypto businesses in October 2025, ASIC has received over 45 digital-asset-related licence applications. The regulator also extended a temporary relief period to include crypto firms operating as authorized representatives of licensed entities in June.