Australia Gives Unlicensed Crypto Firms Until Sept. 30 to Secure Licences, Threatening Fines Up to 10% of Turnover

Australian crypto firms that have been operating under ASIC’s temporary enforcement relief must obtain a proper licence by 30 September 2026 or risk substantial penalties.

Deadline and licensing requirements

ASIC said any business that needs an Australian Financial Services (AFS) licence must either apply for a new licence or amend an existing one before the deadline. Companies that require market or clearing‑and‑settlement licences must also notify ASIC and hold a pre‑application meeting.

Potential penalties

From 1 October 2026, firms that continue to operate without the required authorisation will be deemed to be in breach of financial services law. Penalties may include civil and criminal sanctions, with fines reaching up to 10 % of the firm’s annual turnover.

Current application activity

Since ASIC updated its guidance in October 2025, more than 45 digital‑asset‑related licence applications have been recorded. The regulator had previously reported about 30 applications when it extended the relief period on 25 June 2026.

Scope of the relief period

The temporary relief, originally set to end on 30 June 2026, was extended to 30 September 2026 and broadened to cover crypto businesses acting as authorised representatives of licensed firms or operating through certain intermediary arrangements.

Future regulatory framework

The relief period is separate from Australia’s Digital Asset Framework, which is scheduled to take effect on 9 April 2027.