Australian crypto companies relying on temporary regulatory relief have until Sept. 30 to apply for a financial services license or risk penalties, including fines reaching 10% of their annual turnover.
On Wednesday, the Australian Securities and Investments Commission (ASIC) stated that businesses requiring an Australian Financial Services license must apply for one or seek changes to an existing license before the deadline. Additionally, firms that require market or clearing and settlement licenses must notify the regulator and hold a pre-application meeting.
Starting Oct. 1, companies that require authorization but fail to meet the conditions of ASIC’s no-action position may be operating in breach of financial services law, exposing them to potential civil and criminal penalties.
The warning increases pressure on crypto businesses that have not yet entered the country’s licensing process as temporary enforcement relief comes to an end. ASIC reported recording more than 45 digital asset-related license applications since updating its guidance in October 2025.
Previously, ASIC extended the relief period from June 30 to Sept. 30 and expanded its scope to cover crypto businesses operating as authorized representatives of licensed firms or through specific intermediary arrangements. At the time of that extension, the regulator noted it had received approximately 30 applications.
The transition relief operates separately from Australia’s broader Digital Asset Framework, which is scheduled to take effect on April 9, 2027.
