Australia Removes 45 Crypto and Remittance Registrations

Australia is moving to bring crypto businesses more firmly within its existing financial-services regime. The Australian Securities and Investments Commission, or ASIC, requires companies dealing in regulated financial products or services to hold an Australian financial services licence. The approaching end of temporary relief is significant because firms that have relied on the transition period will no longer be able to postpone authorisation while continuing normal operations.

ASIC said affected crypto businesses must apply for a financial services licence by Sept. 30. From Oct. 1, firms that continue operating without authorisation could face civil and criminal liability, with maximum penalties reaching 10% of annual turnover. The deadline creates a sharp compliance test for the sector, forcing businesses covered by the licensing rules to submit applications or risk substantial sanctions for unlicensed activity.

The Australian Transaction Reports and Analysis Centre, or AUSTRAC, regulates virtual asset service providers under the country’s anti-money laundering and counter-terrorism financing regime. Cryptolink operates machines that convert cash into cryptocurrency, a channel authorities regard as vulnerable to scams and money laundering because funds can be transferred rapidly into digital wallets. Accurate transaction reporting and effective risk controls are therefore central to regulatory oversight of the sector.

AUSTRAC suspended Cryptolink’s registration for three months from Aug. 9, 2026, forcing all 96 of its cryptocurrency ATMs offline. The regulator said the company failed to meet basic threshold transaction reporting obligations and did not respond to a request for information, despite completing an enforceable undertaking agreed in October 2025. That earlier action followed late reporting and risk-control deficiencies and included an A$56,340 penalty, which Cryptolink paid.