Australia
A dual-regulator model that hardened in 2026: AUSTRAC registration is no longer sufficient on its own, and platforms now need an AFS licence.
Who regulates this
Australian Transaction Reports and Analysis CentreAUSTRAC
AML/CTF supervision and registration of digital currency exchange providers.
Australian Securities and Investments CommissionASIC
Australian Financial Services licensing where the activity involves a financial product, including under the Corporations Amendment (Digital Assets Framework) Act 2026.
Licences and permissions
AUSTRAC DCE registration
Digital currency exchange services.
From 31 March 2026 the scope widened from crypto-to-fiat only to all virtual asset services — crypto-to-crypto, custody, transfers, NFTs, stablecoins and tokenised assets.
Australian Financial Services Licence
Operating a Digital Asset Platform or a Tokenised Custody Platform.
A smaller-operator exemption applies where you hold no more than A$5,000 per customer and turn over under A$10 million a year. Above either threshold the AFSL is mandatory.
What it takes
Capital
AUSTRAC registration carries no capital requirement. An AFSL brings financial-resource requirements scaled to the authorisations held, plus professional indemnity cover.
Timeline
AUSTRAC registration is comparatively quick. An AFSL application is commonly nine to eighteen months.
Substance
An Australian entity, locally-resident responsible managers, and an Australian office.
Where a software vendor sits
Neither registration nor the AFSL attaches to a software supplier. ASIC's outsourcing and technology expectations reach providers through the licensee, which must retain responsibility and demonstrate oversight.
What catches people out
ASIC's no-action position for existing businesses expires 30 June 2026 — platforms had to lodge an AFSL application by then to keep operating under it. If you are entering now, you are entering after that door closed, and should plan on the full licence.
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