Australian crypto businesses that need financial-services authorization must choose a compliance route by Sept. 30 or risk enforcement from Oct. 1. ASIC (Australian financial-services regulator) says qualifying firms must apply for or vary an Australian Financial Services License, operate through an authorized-representative arrangement, notify it of an intended market-license application or wind down covered activities. The deadline depends on whether a digital asset or arrangement is a financial product and on the service provided, rather than applying uniformly across the sector. Breaches can bring civil and criminal penalties, including fines of up to 10% of annual turnover. ASIC has received more than 45 relevant applications since updating its guidance in October 2025, after extending the original June 30 transition deadline by three months and expanding the compliance options.