ASIC Warns Unlicensed Crypto Firms of Fines Up to 10% of Annual Turnover
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By Ezra Reguerra and Yohan Yun
Australia has issued a warning to unlicensed crypto firms, reminding them of potential fines reaching 10% of their annual turnover if they fail to obtain necessary licenses before the temporary enforcement relief expires on September 30.
The Australian Securities and Investments Commission (ASIC) has recorded over 45 digital asset-related license applications since updating its guidance in October 2025, with a surge in applications since extending the relief period until September 30th this year.
Starting October 1st, businesses operating without the required Australian Financial Services license will be considered in breach of financial services law, facing potential civil and criminal penalties.