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Points of Focus
- Crypto companies have until Sept. 30 to meet licensing requirements.
- Unlicensed operators can face fines reaching 10% of annual turnover.
- Australia’s broader digital asset licensing regime starts April 9, 2027.
Australia’s financial regulator has given crypto businesses until Sept. 30 to apply for the licenses they need or risk breaching financial-services law from the following day.
The Australian Securities and Investments Commission (ASIC) said companies relying on its temporary sector-wide no-action position must apply for, or seek a variation to, an Australian Financial Services licence before the deadline. Businesses that instead need an Australian Market Licence or a Clearing and Settlement facility licence must notify ASIC and hold a pre-application meeting by the same date.
From Oct. 1, companies that require authorization but have not satisfied the conditions of the relief could face civil or criminal enforcement, including fines potentially reaching 10% of annual turnover.
AUSTRALIA IS CRACKING DOWN ON UNLICENSED CRYPTO FIRMS
ASIC has given crypto businesses until September 30 to apply for the required financial services licence or risk enforcement action from October 1.
And the potential penalties are serious.
Fines can reach up to 10% of a… pic.twitter.com/IuD1SEW7QD
— That Martini Guy ₿ (@MartiniGuyYT) September 3, 2026
More than 45 crypto companies have already applied
The ASIC’s warning marks the end of a transition period that began after the regulator updated its digital-asset guidance in October 2025.
That guidance, known as INFO 225, clarified when products, including stablecoins, wrapped tokens, tokenized securities, and some digital-asset wallets, can fall within existing Australian financial-services laws.
The ASIC initially set a June 30 deadline but extended its no-action position by three months to Sept. 30 after industry participants asked for additional time to make licensing arrangements.
The regulator said it has now received more than 45 applications from companies seeking digital asset-related financial-services authorizations, up from 30 when the extension was announced in June.
Companies may also satisfy parts of the transitional framework by becoming authorized representatives of an existing AFS license holder or entering certain intermediary arrangements.
The warning, therefore, does not mean every Australian crypto company automatically needs the same license. The requirement depends on what assets and services a business actually provides.
Australia already has a tougher enforcement record
The ASIC’s deadline arrives as Australian regulators increase scrutiny of crypto firms that fall within traditional financial rules.
In March, the Federal Court ordered Binance Australia Derivatives to pay 10 million Australian dollars after it had admitted misclassifying more than 85% of its Australian client base as wholesale investors.
The ASIC said 524 retail clients were exposed to high-risk crypto derivatives without required consumer protections, resulting in more than 12 million AUD in losses and fees.
AUSTRAC has separately continued cancelling registrations of virtual asset businesses that fail to meet Anti-Money Laundering (AML) requirements. Its public enforcement record shows numerous cancellations during 2026 alone.
That creates overlapping obligations: A crypto business may need AUSTRAC registration for AML purposes while also requiring ASIC licensing if its products meet the legal definition of financial products.
A bigger crypto regime arrives in April 2027
The Sept. 30 deadline is only an interim step.
Australia’s Corporations Amendment (Digital Assets Framework) Act 2026 takes effect on April 9, 2027, creating a dedicated regime for digital asset platforms and tokenized custody platforms.
The ASIC says many companies applying under today’s rules will still need those authorizations after the new framework begins, and some will later have to add specific digital asset permissions.
The regulator plans additional consultations, standards, and guidance ahead of implementation.
Australia is moving crypto businesses through two regulatory gates. The first closes on Sept. 30 for companies already offering products caught by existing financial law. The second arrives in April 2027, when purpose-built rules for digital-asset platforms formally begin.
For companies still operating under temporary relief, the immediate risk is simpler: After Sept. 30, waiting for the new regime will no longer protect them from enforcement under the laws already in force.
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