Australia's Securities and Investments Commission (ASIC) has warned crypto companies relying on temporary regulatory exemptions that they must apply for an Australian Financial Services License (AFSL) or amend an existing license by September 30. Starting October 1, firms that still need authorization but do not meet ASIC's no-action position conditions may face penalties, including fines up to 10% of annual turnover. ASIC said it has received over 45 digital asset-related license applications since its guidance update in October 2025.
Australia's Securities and Investments Commission (ASIC) has issued a blunt reminder to crypto companies using temporary regulatory exemptions: get an Australian Financial Services License (AFSL) application in, or change an existing license, by September 30. After October 1, any firm that still needs authorization but does not satisfy ASIC's no-action position conditions could be breaching financial services law and could face civil or criminal penalties. The fines can run as high as 10% of annual turnover.
ASIC said it has received more than 45 digital asset-related license applications since revising its guidance in October 2025. The regulator told companies to move fast, stay compliant, and avoid possible enforcement action.
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