Australia warns unlicensed crypto companies: failure to comply by deadline may result in a 10% annual turnover fine

According to Cointelegraph, the Australian Securities and Investments Commission (ASIC) stated that crypto firms relying on temporary regulatory exemptions must apply for an Australian Financial Services Licence (AFSL) or seek to vary an existing licence by September 30. From October 1 onwards, businesses that do not meet the conditions of ASIC’s non-action stance and still require authorization may breach financial services law and face civil or criminal penalties, with fines of up to 10% of annual turnover. ASIC noted that since updating the relevant guidance in October 2025, it has received over 45 applications for digital asset-related licences.