World · Regulation · Australia ·
Australia sets September 30 deadline for crypto firms to obtain licenses or face penalties
Australia's financial regulator, ASIC, warned unlicensed crypto businesses that temporary enforcement relief expires September 30, after which firms that fail to be licensed risk civil and criminal penalties of up to 10% of annual turnover. More than 45 license applications are pending.
Why it matters for the crypto market
A major developed economy's transition from temporary to permanent licensing requirements sets a hard deadline for regulatory compliance and will reshape the crypto services landscape in Australia.
Source: CoinDesk
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