Australia Warns Unlicensed Crypto Firms of Fines Up to 10% of Annual Revenue

Australia’s financial regulator warned that unlicensed cryptocurrency firms could face fines of up to 10% of annual revenue.

Cointelegraph reported on Sept. 3 that the Australian Securities and Investments Commission said companies that need an Australian Financial Services Licence must complete new applications or apply to amend existing licences by the end of September. Firms that require market operating and clearing and settlement licences must also complete mandatory pre-application meetings.

From Oct. 1, companies that continue operating without meeting the licensing requirements could be deemed in breach of Australia’s financial services law. That could expose them to civil and criminal penalties, ASIC said.

ASIC said it has received more than 45 digital-asset-related licence applications since revising its guidance for crypto businesses in October 2025. In June, the regulator extended a temporary relief period to the end of September from the end of June and expanded the measure to include crypto firms operating as authorized representatives of licensed entities.

The latest grace period for the licensing transition will operate separately from Australia’s digital asset framework, which is scheduled to take effect in April 2027.