ASIC Warns Unlicensed Crypto Firms Face Up to 10% Fines

The Australian Securities and Investments Commission (ASIC) has stated that crypto firms relying on temporary regulatory relief must apply for an Australian financial services license or seek to amend their existing licenses by September 30. Those who fail to do so may face fines of up to 10% of their annual turnover. Firms requiring a market license or clearing and settlement license must also notify the regulator and participate in pre-application meetings. Starting October 1, firms that do not meet ASIC's conditions for a "no action" stance but still require authorization may violate the financial services law and face civil and criminal penalties. ASIC disclosed that since updating its guidelines in October 2025, it has recorded over 45 applications related to digital asset licenses. On June 25, ASIC extended the temporary regulatory relief period from June 30 to September 30 and broadened its applicability.

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