Australian Crypto Firms Face Licensing Deadline as No-Action Relief Ends
Australia's temporary no-action relief for crypto firms expires on September 30, forcing affected businesses to enter the country's financial services licensing process or risk breaching financial services law and facing civil or criminal penalties.
More than 45 digital asset businesses have sought relevant authorizations since ASIC updated its guidance in October 2025. Companies that require an Australian Financial Services licence or a Clearing and Settlement facility licence must notify ASIC in writing of their intention to apply by September 30 and hold a pre-application meeting with the regulator.
Businesses that fail to meet the conditions of the temporary relief could be operating in breach of financial services law from October 1. The Australian Securities and Investments Commission (ASIC) has warned that violations can carry civil and criminal penalties, with potential fines reaching as much as 10% of annual turnover.