Australia Crypto Firms Need License by Sept 30

Australia's financial regulator has issued a final warning to cryptocurrency firms operating under temporary relief, reminding them that a deadline to secure proper licensing expires on September 30, 2026. Companies that fail to meet this requirement risk civil and criminal penalties, including potential fines of up to 10 percent of their annual turnover, beginning October 1, 2026. The Australian Securities and Investments Commission (ASIC) is ending a period of transitional relief that allowed eligible crypto businesses to continue operating while preparing to comply with existing financial services laws. Firms must now submit applications for an Australian Financial Services (AFS) license, amend existing authorizations, or establish arrangements with licensed entities, such as authorized representatives or intermediaries. Businesses seeking an Australian Market Licence or a Clearing and Settlement Facility Licence are also required to notify ASIC in writing and complete a pre-application meeting by the September 30 deadline. This regulatory push is part of a broader effort to integrate digital asset businesses into Australia's formal financial framework.