Australia

Australia’s financial regulator has warned crypto businesses relying on its no-action position to meet authorization conditions by Sept. 30. Firms that fail to act could breach financial services law from Oct. 1 and face civil or criminal penalties.

Australian regulators have launched legal action against Telegram over allegations that the messaging platform failed to remove terror-related content, including material tied to extremist attacks. The case adds to mounting international scrutiny of Pavel Durov’s platform, which remains a major communications hub for crypto communities, trading groups, bots and blockchain-based mini apps.