ASIC warns unlicensed crypto firms of fines up to 10% of annual revenue.

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Release Time: 2026/09/03 08:16:40

Summary

ASIC has warned unlicensed crypto firms that failing to obtain an Australian Financial Services License by September 30 could result in fines of up to 10% of annual revenue. The regulator stressed the importance of addressing Countering the Financing of Terrorism (CFT) obligations as part of compliance. More than 45 license applications have been submitted since October 2025. The temporary relief deadline has been extended to September 30. Entities that do not meet ASIC’s requirements from October 1 may face legal action. Pre-application meetings are mandatory for market and clearing licenses. Liquidity and crypto markets remain under heightened regulatory scrutiny.

Odaily Planet Daily reports that the Australian Securities and Investments Commission (ASIC) has stated that cryptocurrency businesses relying on temporary regulatory exemptions must apply for an Australian Financial Services license or request an amendment to their existing license by September 30; failure to do so may result in penalties of up to 10% of annual turnover.

ASIC states that businesses requiring a market license or clearing and settlement license must also notify the regulator and attend pre-application meetings. Starting October 1, businesses that do not meet the conditions of ASIC’s “no-action” stance but still require authorization may breach the Corporations Act and face civil and criminal penalties.

ASIC disclosed that over 45 license applications related to digital assets have been recorded since the guidance was updated in October 2025. On June 25, ASIC extended the temporary regulatory relief period from June 30 to September 30 and expanded its scope. (Cointelegraph)

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