Australia's ASIC warns unlicensed crypto firms face fines of up to 10% of annual revenue.

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Australia’s ASIC warns that unlicensed crypto firms could face fines of up to 10% of their annual revenue if they fail to obtain an Australian Financial Services License by September 30. Since updating crypto legislation in October 2025, the regulator has received over 45 license applications. Firms that do not meet ASIC’s no-action position criteria risk breaching financial services laws as of October 1. Liquidity and crypto markets remain under close regulatory scrutiny as compliance deadlines approach.

Huo Xing Finance reports, according to Cointelegraph, that the Australian Securities and Investments Commission (ASIC) has stated that cryptocurrency companies relying on temporary regulatory exemptions must apply for an Australian Financial Services License or request an amendment to their existing license by September 30. Starting October 1, businesses that have not met the conditions of ASIC’s “no-action” stance and still require authorization may be in breach of the Financial Services Act and could face civil or criminal penalties, with fines of up to 10% of annual turnover. ASIC noted that since updating its guidance in October 2025, it has received over 45 license applications related to digital assets.

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