Australian Crypto Firms Face Deadline for Licensing and Potential Fines
Australia's crypto firms have reached a September 30 deadline to enter the country's financial services licensing process, after which the Australian Securities and Investments Commission (ASIC) temporarily loses its no-action protection.
The regulator initially set a June 30 cutoff, but extended it due to industry challenges in navigating the transition. More than 45 license applications have been submitted by businesses seeking authorization for digital asset-related financial services since ASIC updated its guidance in October 2025.
Companies requiring an Australian Market Licence or a Clearing and Settlement facility licence must notify ASIC of their intention to apply and hold a pre-application meeting with the regulator by September 30. Firms that fail to comply could face civil and criminal penalties from October 1, including fines reaching up to 10% of annual turnover.