Open a Cryptocurrency Company in Australia

Australia is one of the many states that have already created a legal environment for those who want to use and invest in cryptocurrency and one the requirements is to apply for a crypto license in Australia. Our consultants offer legal assistance in opening a cryptocurrency company in Australia.

What are the main cryptocurrency regulations in Australia? 

Australia has made significant advancements in creating a legal framework for cryptocurrency users and businesses. One of the laws applicable to this field is the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Section 5. New regulations were introduced by the Corporations Amendment (Digital Assets Framework) Act 2026, in force from 9 April 2027.

How can one register a cryptocurrency company in Australia? 

The main aspects investors should decide upon are the same as the ones applicable in the case of the registration of any other legal entity: 1) establishing a suitable trading name and 2) selecting a proper legal entity. Besides these, the following are required:

1. another important step is to apply for the Australia Business Number (ABN), which is compulsory for all companies that are registered on the Australian territory;
2. please mind that the company’s representatives will have to make sure that they have a crypto license in Australia, if the selected field of activity requires this;
3. another important task to complete during the procedure of company formation in Australia is the registration with the local institutions;
4. apart from the institutions usually involved in the registration of an Australian business, a crypto company will need to register with the Australian Transaction Reports and Analysis Centre (AUSTRAC) – the requirement varies based on the crypto activity.

What are the main types of crypto licenses in Australia?

Australia has introduced several types of licenses for companies operating in the field of cryptocurrencies. These licenses are designed in accordance with the types of activities that can be carried out in this sector. Thus, at the moment, investors can apply for the following:

1. the AUSTRAC registration for digital currency exchanges (DCE), replaced by VASP registration from 31 March 2026;
2. the Australian financial services license (AFSL);
3. the crypto trading license (includes Digital Asset Platform – DAP and the Tokenized Custody Platforms – TCP);
4. the VASP license in Australia (VASP is the acronym for virtual asset service providers).

What is a VASP license in Australia?

VASPs in Australia are also referred to as digital currency exchange services and all entities that fall under the definition of this term must apply for a license. The VASP license in Australia must be issued in accordance with the rules of theAnti-Money Laundering and Counter-Terrorism Financing Act 2006, Sections 76 A and B.

Who can be a VASP in Australia?

According to the Australian legislation, a VASP, or a digital currency exchange provider, can be any of the following:

1. individuals;
2. companies;
3. organizations.

When is it required to apply for a VASP license?

The VASP license in Australia is required when the exchange of currencies falls under any of the 2 scenarios below:

1. Australian or foreign currencies are exchanged for cryptocurrencies;
2. cryptocurrency is exchanged for Australian or foreign currencies.

What institution is in charge with the issuance of the crypto license?

It depends on its nature. AFSL and DAP/TCP licenses are issued by ASIC, while DCE and VASP licenses fall under the authority of AUSTRAC.

How long does it take to obtain the crypto license?

The duration of the processing period depends on the nature of the license. In the list below, our consultants present the timeframes stipulated by law:

1. DCE and VASP licenses are processed in a period ranging from 6 weeks to 6 months;
2. the AFSL license is processed in 4 to 8 months;
3. the DAP/TCP licenses are processed in minimum 12 months.

Are there any registration fees?

AUSTRAC does not charge registration fees. However, for the issuance of a crypto license granted by ASIC, applicants can pay minimum AUD 50,000.

Is it necessary to renew the crypto license?

Please know that once a company has obtained a crypto license in Australia, AUSTRAC registration must be renewed every 3 years (an ASIC-issued AFS licence has no expiry date).

Is there any obligation to maintain the company’s records?

Yes, cryptocurrency-related businesses that are licensed for their activities in Australia are required to maintain their records for a period of 7 years.

What is the Travel Rule?

Starting with 1st of July 2026, Australia requires cryptocurrency exchange operators to apply the Travel Rule, which is a new obligation imposed as a measure deriving from the anti-money laundering laws. Under this new law, operators are legally required to collect and share information about the sender and the recipient of a crypto transfer.

What information is gathered under the Travel Rule?

The data collected by cryptocurrency exchanges is regulated under the Section 63 of the AML/CTF Act, which mandates the following:

1. concerning the originator, the operator must gather the name/trade name, the wallet address/the transaction reference number and the unique customer identification number/the unique identifier/date and place of birth/business or residential address;
2. for the beneficiary of the transaction, the operator must store the information only for the 2 first elements mentioned above, namely the name/trade name and the wallet address/the transaction reference number.

We invite you to contact our team of consultants in company formation in Australia for more information on the registration of a crypto company and the issuance of a crypto license.