Australian crypto companies relying on temporary regulatory relief have until Sept. 30 to apply for the licenses they need or risk penalties that can reach 10% of annual turnover, according to the Australian Securities and Investments Commission.
ASIC said on Wednesday that businesses requiring an Australian Financial Services license must either submit an application or seek changes to an existing license before the deadline. Companies that need market licenses or clearing and settlement licenses must also notify the regulator and attend a pre-application meeting.
Oct. 1 marks the next compliance point
From Oct. 1, firms that require authorization but have not met the conditions tied to ASIC’s no-action position could be operating in breach of financial services law, the regulator said. Those businesses may face civil and criminal penalties.
The warning increases the pressure on crypto companies that have not yet entered Australia’s licensing process as ASIC moves toward the end of its temporary enforcement relief.
More than 45 digital asset-related applications recorded
ASIC said it has recorded more than 45 digital asset-related license applications since updating its guidance in October 2025.
On June 25, the regulator extended the relief period from June 30 to Sept. 30. It also widened the measure to cover crypto businesses operating as authorized representatives of licensed firms or through certain intermediary arrangements. At that time, ASIC said it had received about 30 applications.
Separate from the Digital Asset Framework
ASIC said the transition relief is separate from Australia’s Digital Asset Framework, which will take effect on April 9, 2027.
Related coverage noted that Australia had also ordered Cryptolink Bitcoin ATMs offline over what regulators described as “basic reporting” failures.