Australia threatens unlicensed crypto firms with fines up to 10% of annual turnover
Source Summary
Australia's financial regulator ASIC has warned unlicensed cryptocurrency firms they face penalties of up to 10% of annual turnover. ASIC has received more than 45 digital asset-related license applications as its temporary enforcement relief period approaches expiration on September 30.
Why it matters
The enforcement deadline creates immediate compliance pressure on unlicensed crypto operators in Australia and signals regulatory tightening after a period of temporary relief.
