Australia Sets September 30 Deadline for Crypto Licensing

The regulator’s mandate targets companies providing digital asset products that qualify as financial services under existing law. While the agency has already processed over 45 licence applications since updating its guidance in 2025, those failing to meet the deadline risk severe consequences. Penalties for non-compliance can reach 10% of a firm’s annual turnover, with courts determining the final impact based on individual case circumstances.

Firms must assess whether their specific offerings—such as custody services, staking, or stablecoins—fall under current licensing requirements. The regulator emphasizes that temporary relief was never a legal exemption, but rather a brief window for transition. From October 1, companies that have not submitted a formal application or requested a licence variation may face active enforcement. This regulatory push remains distinct from the upcoming Digital Assets Framework, which is set to take effect in April 2027.