Quick Facts
| Parameter | Value |
|---|---|
| License name | AFSL (Crypto) |
| Country | Australia |
| Regulator | ASIC |
| What it covers | Australian Financial Services Licence for tokenised products / custody |
| Minimum capital | AUD 50,000–200,000 |
| Timeline | 6–9 months |
What is the AFSL (Crypto)?
The AFSL (Crypto) is a regulator authorisation issued by ASIC that allows a regulated entity in Australia to provide the services covered by the regime. Mandatory if assets are 'financial products'.
Who needs a AFSL (Crypto)?
Operators offering services that fall within the activity definition supervised by ASIC. The activity scope captures australian financial services licence for tokenised products / custody — and you should treat anything within or adjacent to that scope as caught until the structure has been opined on.
How the AFSL (Crypto) application works
The application is run as a structured five-stage workstream: scoping and gap analysis, incorporation and substance, AML/KYC programme drafting, regulator submission and RFI cycles, and post-licence onboarding. Total time from kickoff to authorisation is 6–9 months.
Cost of the AFSL (Crypto)
The total first-year cost combines: regulator fee, statutory capital tied up at AUD 50,000–200,000, legal fees confirmed at engagement, substance (resident director, office, AML officer where required), and the first year of ongoing supervision. We provide a fixed-scope quote at engagement so the number is not a moving target.
Pitfalls to avoid
- Mismatched substance. Paper directors and serviced offices are detected at first examination. Substance must be substantive;
- Generic AML programmes. ASIC reads policies as a competency signal — generic templates are visible;
- Banking afterthoughts. A licence without a bank account is a paperweight. Banking is part of the engagement, not bolted on after authorisation;
- Ignoring the year-one supervision burden. Authorisation is the start. Annual audit, AML refresh and material-change notifications are calendared from day one.
Frequently asked questions
What does the AFSL (Crypto) cover?
The AFSL (Crypto) authorises australian financial services licence for tokenised products / custody. It is supervised by ASIC. Mandatory if assets are 'financial products'.
What is the timeline for the AFSL (Crypto)?
Typical timeline is 6–9 months from kickoff to authorisation. Variance comes from RFI cycles and the quality of the application file at submission, not from the published schedule.
What is the minimum capital for the AFSL (Crypto)?
Statutory capital is AUD 50,000–200,000. Capital is one input — substance, governance and the AML programme usually drive the application outcome more than the capital line on its own.
How does the AFSL (Crypto) fit alongside other Australia licences?
Most operating models in Australia combine AFSL (Crypto) with one of the other available regimes — see the full list on the Australia page.
Who supervises AFSL (Crypto) authorisation in Australia?
ASIC is the supervising authority. The same regulator handles ongoing supervision after authorisation, including annual returns and material-change notifications.