Eternity Law International News Cryptocurrency in Australia

Cryptocurrency in Australia

January 29, 2020

Cryptocurrency in Australia is developing every year. There are more and more miners, so the government has come to grips with the issue of regulating this currency. The act that regulates cryptocurrency-related activities throughout Australia is called the Corporations Act.

It was created back in 2001 and is known in the world as the ASIC-based law, which stands for the Australian Securities and Investment Commission. In other words, it is the Australian Securities and Investments Commission.

Description of the registration procedure

Nowadays, cryptocurrency is considered an electronic currency. ASIC, in its speech dated 11/13/2014, clarifies that in the act issued earlier, the cryptocurrency is not classified as financial working capital.

Therefore, previously, it was not required to obtain any permission to work with cryptocurrency in Australia. The act states that when working with the sector in which the exchange for the so-called fiat money is made, you must have a license permit.

If a company uses cryptocurrency as a material investment in the development of a real production industry, it is necessary to clarify whether licensing is necessary or not (taking into account section 5C Corporations Act).

When the fund contains more than 20 people, you must complete full registration with ASIC:

  • issue a Public Company – such a legal form is used for public companies (it contains all the information about the needs for the company’s operation and the need for registration);
  • obtain an Australian financial license (its presence allows the company to carry out currency exchange);
  • collect documents, taking into account all the requirements that can be submitted through the state website online.

The regulator allows the company to issue all documents through the ASIC, both before applying for authorization, and performing these two actions simultaneously.

The documentation for obtaining this license differs from each other based on the activities of the company.

The following funds are distinguished:

  • Managed fund;
  • Exchange trade fund;
  • Investment company (listed investment company).
  • In conclusion, it should be noted that today the funds that deal with cryptocurrency in Australia are successfully flourishing.

However, to register, you still need the help of lawyers, contact Eternity Law International right now!

You could be interested

So you want to register a Money Service Business (MSB) in Canada?

Modern business-projects are connected with the provision of high-tech services. If we are talking about financial structures, it is an extremely profitable interaction to work in the field of providing cash-handling assistance. New companies are regularly required in the market to provide fast and quality money transfers and foreign currency-transactions. However, such companies need to...

Purpose and scope of MiCA regulation

MiCA, EU law of cryptocurrency market was put into consideration in the EuroParliament in March 2022, and as result, the amendment to limit PoW-based crypto assets, which would have efficiently resulted in a ban on Bitcoin, has obtained a rejection. Read on to find out what is the purpose and scope of MiCA regulation and...

Cryptocurrency offshore license

Creating crypto organizations in offshores is not as complicated as it seems. Main advantages of obtaining such a permit as cryptocurrency offshore license is ability to pay tax at a low rate, or to exempt your company from taxation altogether. In addition, offshore offers increased levels of protection of personal information of the enterprise’s owners....

Company registration in Argentina

Argentina still has not been able to fully overcome the economic crisis that has been going on over the past decade. The state must still make a lot of efforts to revive the economy. Therefore, the country’s government is trying its best to attract foreign investors. In recent years, experts say, Argentina has been moving...

Crypto Business in Georgia

Georgia possesses status of one of states being most favorable to crypto-assets and strongly supports their use; there aren’t restrictions regarding crypto-exchanges. Additionally, crypto business in Georgia, located in special zones, should obtain an appropriate permission. In addition, Georgia has provided tax reliance and created a favorable taxation system for organizations whose activities are related...

Company registration Delaware

Registration fee EUR 870.00 Company renewal cost EUR 790.00 Number of directors 1 Corporate tax 0.00% Paid Authorized Capital 0.00 Reporting requirements no General information about the company in Delaware Company type – Limited Liability Company (LLC); The time frame for company registration – 2 to 3 days; The Delaware Secretary of State is the...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52


1629 K St. Suite 300 N.W.


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7