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Australia sets Sept. 30 deadline for crypto license applications
Crypto firms relying on ASIC’s temporary relief must meet authorization conditions by Sept. 30 or risk penalties starting Oct. 1, including fines up to 10% of annual turnover.
Australia’s financial regulator, ASIC, has set a Sept. 30 deadline for crypto businesses relying on its no-action position to apply for required Australian financial services licenses or authorization arrangements.
ASIC said firms that miss the deadline could be in breach of financial services law from Oct. 1 and face civil or criminal penalties. The regulator also warned that penalties can include fines of up to 10% of annual turnover.
ASIC said more than 45 businesses have applied for relevant licenses since it updated its digital asset guidance in October 2025. The regulator also said that some activities, such as those requiring an Australian Market Licence or a clearing and settlement facility license, must notify ASIC and hold a pre-application meeting by Sept. 30.
Separately, Australia’s Corporations Amendment (Digital Assets Framework) Act 2026 is set to take effect on April 9, 2027, bringing crypto and tokenized custody platforms under the financial-services licensing regime, according to ASIC. The regulator said many firms will still need their existing financial services authorizations after that start date.