Fintech + payments + crypto
PSP licensing reform, CDR Action Initiation, stablecoin + crypto asset platform licensing, ePayments Code reform, Mandatory Payments System.
12
Obligations
2
Regulators
14
Recent enforcement
Regulators
Obligations (12)
- criticalCWLTHupcomingMajor banks must provide CDR Banking + Action Initiation (2026)
CDR Action Initiation lets accredited recipients initiate payments + actions on consumer behalf.
- highCWLTHcurrentConsumer Data Right (CDR) participant accreditation + compliance
Banking, energy and (soon) non-bank lending data sharing — accredited participants must comply with privacy safeguards.
- highCWLTHcurrentComply with CDR Banking (Open Banking) — major + non-major ADIs
Banking data holders must share consumer data with accredited recipients on consumer consent.
- highCWLTHupcomingCrypto Asset Secondary Service Provider (CASSPr) licensing reforms
Treasury consultation 2024 on bespoke crypto licensing — separate from AFSL.
- highCWLTHupcomingPayment Service Provider (PSP) licensing reform — implementation pending
Treasury reform of payments licensing to capture digital wallets + Buy Now Pay Later + stored value.
- highCWLTHupcomingStablecoin payments licensing — Treasury reforms (in scoping)
Treasury reforms scoping payment stablecoin licensing under PSP regime.
- highCWLTHcurrentCrypto-Asset Reporting Framework (CARF) — implementation 2026-2027
AU adopts the OECD CARF for crypto reporting; reporting expected from 2027, first international exchange ~2028 (per Dec 2025 MYEFO).
- highCWLTHupcomingCrypto Asset Platform licensing (Treasury reforms 2024-2025)
Treasury scoping CASP regime for digital asset platforms.
- highCWLTHcurrentCDR Energy sector — phased
Energy retailers + distributors must share data via CDR.
- highCWLTHcurrentComply with Stored Value Facility rules (banking exception)
SVF providers must operate within APRA + Treasury rules on purchased payment facility regulation.
- mediumCWLTHcurrentComply with the ePayments Code
Voluntary but industry-standard code covering electronic transaction terms, mistaken internet payments, and unauthorised transactions.
- mediumCWLTHcurrentPCI DSS card data security (contractual, via your acquirer)
Merchants that accept card payments must protect cardholder data to PCI DSS — a requirement of the card schemes, enforced through your merchant agreement, not an Australian statute.
Recent enforcement
- austraclicence action2026AUSTRAC orders Cryptolink’s crypto ATMs offline
AUSTRAC has suspended Cryptolink Pty Ltd’s registration amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations.
- asiccriminal2026Brendan Gunn sentenced in connection with suspected international cryptocurrency scam
Former finance director Brendan Gunn has been sentenced in the Local Court of NSW for dealing with over $180,000 when it was reasonable to suspect that those funds were proceeds of crime.
- asicdisqualification2026ASIC disqualifies Ashod Balanian from managing corporations for maximum five-year period
ASIC has disqualified Ashod Ohan Balanian, of North Ryde, New South Wales, from managing corporations for the maximum period of five years, for his involvement in three failed companies which operated a cryptocurrency fund.
- asiccivil penalty$14.0M2026BPS Financial to pay $14 million in penalties over crypto Qoin Wallet
The Federal Court has found BPS Financial Pty Ltd ( BPS Financial ) must pay $14 million in pecuniary penalties over its promotion and operation of its ‘Qoin Wallet’ crypto product.
- asiccourt order2025NGS blockchain mining companies and unregistered scheme wound up, found operating without a licence
The Federal Court has found that blockchain mining companies NGS Group Limited, NGS Crypto Pty Ltd and NGS Digital Pty Ltd operated a financial services business without an Australian financial services (AFS) licence.
- asiccourt order2025NGS blockchain mining companies and unregistered scheme wound up, found operating without a licence
The Federal Court has found that blockchain mining companies NGS Group Limited, NGS Crypto Pty Ltd and NGS Digital Pty Ltd operated a financial services business without an Australian financial services (AFS) licence.
- asiccourt order2025NGS blockchain mining companies and unregistered scheme wound up, found operating without a licence
The Federal Court has found that blockchain mining companies NGS Group Limited, NGS Crypto Pty Ltd and NGS Digital Pty Ltd operated a financial services business without an Australian financial services (AFS) licence.
- austracinfringement$56K2025AUSTRAC cracks down on Cryptolink for late reporting
AUSTRAC has issued Cryptolink an infringement notice of $56,340 and accepted a court-enforceable undertaking that addresses the company’s AML/CTF deficiencies.
- accccivil penalty2025ACCC CDR enforcement progressing 2024-2025
ACCC + OAIC CDR enforcement progressed in 2024-2025 — first civil penalty proceedings + significant infringement notices.
- asiccivil penalty$15.0M2024ASIC v Binance Australia
ASIC alleged Binance Australia Derivatives misclassified 500+ retail clients as wholesale; failed AFSL retail client protections.
- acccreview2024ACCC CDR Banking compliance reviews 2024
Periodic ACCC + OAIC compliance reviews of CDR Banking data holders + accredited recipients.
- austraccivil penalty$4.0M2024AUSTRAC v Bell Financial Group
Bell Financial failed to conduct adequate enhanced customer due diligence on high-risk customers including those with PEP and adverse media flags.
- asiccivil penalty$350K2024ASIC v Block Earner (unlicensed crypto financial product)
Block Earner operated a crypto-asset 'Earner' product Federal Court found was a financial product requiring AFSL.
- asiccourt judgment2024ASIC v Finder Wallet (crypto financial product)
ASIC alleged Finder Wallet's Earn product was a financial product requiring AFSL — Federal Court ruled in Finder's favour.