Australia gives crypto firms until Sept. 30 to secure licenses or face penalties

Australia's securities regulator has told crypto businesses they have until Sept. 30 to secure the required financial licenses or risk fines and other penalties once its temporary relief expires. More than 45 firms have already applied since the regulator updated its digital asset guidance last October.

The Australian Securities and Investments Commission has warned crypto businesses relying on its no-action position that they have until Sept. 30 to meet its authorization conditions or risk fines and other penalties. From Oct. 1, businesses that need a license but have not met the conditions of ASIC's temporary relief could be operating in breach of financial services law.

What firms must do before the deadline

ASIC said firms can apply for or vary an Australian Financial Services license, or operate under authorized-representative or intermediary-authorization arrangements with an AFS license holder. The relief also covers businesses entering into those representative or intermediary arrangements.

Companies that need an Australian Market Licence or a Clearing and Settlement facility license face an added step: they must notify ASIC and hold a pre-application meeting by Sept. 30. Miss it, and the same Oct. 1 breach risk applies.

Penalties and the scale of the response

Firms that fall short face consequences. ASIC said penalties can include fines of up to 10% of annual turnover for businesses caught operating without the required license after the deadline.

The industry has responded. ASIC has received more than 45 applications from companies seeking crypto-related authorizations since it updated its INFO 225 guidance in October 2025, which sets out when crypto products and services fall under existing financial laws.

A longer framework is still coming

The Sept. 30 deadline is one step in a broader shift. Australia's Corporations Amendment (Digital Assets Framework) Act 2026 comes into effect on April 9, 2027, bringing crypto and tokenized custody platforms under the financial-services licensing regime.

Many firms will still need their existing financial services authorizations once that framework starts, ASIC said.

Source: CoinDesk

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