Australia Marketplace

Australia

Australia rewrote its crypto rulebook twice inside twelve months, and buyers who priced an Australian entity on the old rules are holding something different now. On 31 March 2026 the digital currency exchange register became the virtual asset service provider register, which widened the net from crypto-to-fiat trading to crypto-to-crypto, custody where the provider controls private keys, and financial services connected to the sale of a virtual asset, with existing registrants carried across automatically and the travel rule live from 1 July 2026. Anyone enrolling from scratch had until 29 July 2026 to complete registration. Running underneath that, the Corporations Amendment (Digital Assets Framework) Act 2026 received Royal Assent on 8 April 2026 and commences on 9 April 2027, which puts digital asset platforms and tokenized custody platforms inside the Australian financial services license regime, with ASIC's no-action relief only covering firms that lodged an AFSL application or variation by 30 June 2026. Penalties run to AUD 16.5 million or 10% of annual turnover. So the question to ask about any Australian entity on this page is which of the two regimes it sits in, whether an AFSL application was lodged inside the window, and whether the resident director and physical office arrangements survive a change of ownership.

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Frequently Asked Questions (FAQ)

What license do you need to run a crypto exchange in Australia? +

Two things, and they are separate. Registration with AUSTRAC as a virtual asset service provider covers anti-money-laundering, and an Australian financial services license covers the platform itself once the Digital Assets Framework Act commences on 9 April 2027. A business dealing in digital asset financial products needs both.

What changed on 31 March 2026? +

The digital currency exchange category was retired and replaced by a broader virtual asset service provider category. Crypto-to-crypto exchange, custody where the provider holds private keys, and financial services connected to the offer or sale of a virtual asset all became registrable, and existing DCE registrants transitioned across without reapplying.

Do you still need AUSTRAC registration if you hold an AFSL? +

Yes. The AFSL covers conduct, disclosure, and financial services obligations under the Corporations Act, while AUSTRAC registration covers AML and counter-terrorism financing under a different act with a different supervisor. Holding one has never excused you from the other.

How long does AUSTRAC registration take? +

One to three months for a prepared application, assuming the AML/CTF program, customer identification procedures, transaction monitoring, and the compliance officer appointment are all in place before you file. AUSTRAC will not register a business whose program is a downloaded template.

Do you need an Australian resident director? +

Yes. An Australian proprietary limited company needs at least one director who ordinarily resides in Australia, and the business needs a genuine physical office rather than a registered agent address. Professional resident director arrangements run roughly AUD 6,250 to AUD 20,000 a year.

What capital does an Australian digital asset platform need? +

Under the digital asset platform rules, a platform providing custody holds the greater of AUD 10 million or 10% of average revenue, while incidental custody drops that to the greater of AUD 150,000 or 10%. Platforms holding at least AUD 100,000 of client assets also carry a surplus liquid funds requirement of AUD 50,000.

Can you buy an Australian entity that is already registered? +

Yes, and it is the ordinary route into the market now that the enrolment deadline has passed. The registration attaches to the company, so a share sale keeps it intact, though AUSTRAC gets notified of the change in ownership and the incoming compliance officer.

What happens to businesses that missed the 30 June 2026 AFSL deadline? +

They fall outside ASIC's no-action relief and risk breaching financial services law once the regime commences, with penalties reaching the greater of AUD 16.5 million or 10% of annual turnover. Acquiring an entity that lodged in time is the cleanest way back inside the window.