Australia warns unlicensed crypto firms as enforcement relief nears end

Australia’s securities regulator has warned unlicensed cryptocurrency businesses that they could face fines of up to 10% of their annual turnover. The warning comes as temporary enforcement relief for digital asset firms is scheduled to expire on Sept. 30. The Australian Securities and Investments Commission (ASIC) has recorded more than 45 applications for digital asset-related licenses, according to Cointelegraph. The number of applications highlights activity among crypto businesses seeking authorization before the relief period ends. Firms operating without the required licensing may face financial penalties once the temporary arrangement expires. The developments are relevant to the broader digital asset market in Australia, where regulatory status may affect crypto companies and related services.