Australian Financial Services License (AFSL)
ASIC license required for providing financial services involving crypto assets classified as financial products, including managed investment schemes, derivatives, and custody services.
Corporations Act 2001 Part 7.6, ASIC Regulatory Guide 133
Capital Required
AUD 50,000-5,000,000 depending on authorization type
Timeline
6-12 months
Fees
AUD 3,432 application + AUD 2,000-10,000 annual
Regulatory Body
Australian Securities and Investments Commission (ASIC) / AUSTRAC
Legislative Framework
Australian Securities and Investments Commission Act, Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Corporations Act 2001
Last updated: August 2025
Key Requirements
Maintain minimum financial requirements per ASIC Corporations Act 2001 sections 912A(g) (AUD 50,000-5,000,000 depending on authorization).
Establish Australian Financial Services Licensee (AFSL) with authorizations covering crypto financial products offered.
Designate Responsible Manager with Australian Financial Services Representative License (AFSL/ASIC authorization).
Develop Financial Services Guide (FSG) disclosing services, financial product information, and conflicts of interest.
Implement anti-money laundering procedures compliant with AUSTRAC requirements and ongoing customer due diligence.
Establish complaints handling procedures with external dispute resolution scheme membership (ASIC approved EDR provider).
Maintain professional indemnity insurance covering financial services with minimum AUD 5,000,000 coverage.
Application Process
Prepare detailed business plan describing crypto financial services and target market segment.
Document minimum capital adequacy per financial service types (AUD 50,000-5,000,000) with audited financial statements.
Identify Responsible Manager with AFSL authorization and Australian Financial Services Representative License.
Prepare Financial Services Guide with crypto product descriptions, fees, and conflict disclosures.
Develop compliance procedures addressing AML/CTF, customer due diligence, and complaint handling.
Prepare ASIC application Form FS 91 with supporting governance and compliance documentation.
Submit AFSL application to ASIC with business plan, financial documentation, and compliance procedures.
Engage with ASIC during assessment period (6-12 months) addressing information requests and clarifications.
Receive AFSL approval and commence crypto financial services provision.
Expected Total Timeline
6-12 months
Ongoing Obligations
After obtaining your Australian Financial Services License (AFSL), these are the continuing compliance requirements you must maintain.
Maintain minimum financial requirement per ASIC authorization with annual audited financial statements.
Submit annual compliance certifications to ASIC confirming AFSL conditions and financial service obligations.
Maintain Financial Services Guide (FSG) with annual updates reflecting service changes, fee updates, and disclosures.
Maintain AML/CTF compliance with customer identification and transaction monitoring per AUSTRAC requirements.
Respond to customer complaints within 30 calendar days with documented resolution and EDR referral documentation.
File annual EDR complaint summary report and maintain EDR scheme membership continuously.
Maintain professional indemnity insurance at minimum AUD 5,000,000 with annual renewal certificates to ASIC.
Cost Summary
Capital Requirement
AUD 50,000-5,000,000 depending on authorization type
Application & Licensing Fees
AUD 3,432 application + AUD 2,000-10,000 annual
Jurisdiction Setup Cost
$10,000-$40,000
Annual: $8,000-$25,000
Other Australia Licenses
Explore other license types available in Australia.
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