Australia’s crypto crackdown: firms face license deadline

Australia urges crypto firms to secure licenses by September 30, 2026, or face fines up to 10% of turnover. Over 45 applications have been filed amid growing regulatory uncertainty.

Australia is ramping up regulatory oversight of cryptocurrency businesses as a crucial compliance deadline nears. Crypto firms currently operating under temporary regulatory relief must apply for or amend their financial services licenses by September 30, 2026. Failure to comply could result in civil and criminal penalties, including fines of up to 10% of annual turnover. Since ASIC updated its guidance in October 2025, more than 45 digital asset-related license applications have been submitted. Firms requiring market or clearing and settlement licenses must also notify ASIC and hold a pre-application meeting by the deadline. Starting October 1, operating without the necessary authorization may constitute a breach of financial services law. This regulatory push is generating uncertainty in the crypto market, with some participants viewing it as a potential obstacle to the price growth of major digital assets like Bitcoin. The broader Digital Assets Framework Act will take effect in April 2027, bringing additional standards and guidance.