CoinSpot have announced it had been granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investments Commission (ASIC) for the provision of non-cash payment facilities.
The AFSL enables CoinSpot to continue to offer its CoinSpot MasterCard while also providing CoinSpot with the ability to offer new innovative payment products to its customers, which it intends to do in the near future.
The AFSL also introduces a regulated framework for payment services provided by CoinSpot, with defined obligations around governance, risk management, internal controls and customer protections, including access to external dispute resolution.
There will be no change to CoinSpots’ existing platform which includes the ability to trade across more than 500 digital assets, AUD deposits and withdrawals available via PayID, PayPal, Card and direct bank transfer, and access to Australian based customer support around the clock.
Australia’s regulatory framework for digital assets is evolving. ASIC’s updates to INFO Sheet 225 and the proposed Corporations Amendment (Digital Assets Framework) Act 2026 is expected to introduce a licensing regime for certain crypto asset services, overseen by ASIC.
CoinSpot has secured an Australian Financial Services Licence, for the provision of non-cash payment facilities, positioning the business well as Australia’s digital asset regulatory framework continues to evolve.
This proactive approach reflects a simple belief that Australians should benefit from strong standards of conduct, transparency and consumer protections when using crypto-related services.
While the AFSL will only apply to regulated payment products offered by CoinSpot, it adds to CoinSpot’s established compliance and governance framework that includes registration with AUSTRAC as a Digital Currency Exchange since 2018 (now referred to as a Virtual Asset Service Provider (VASP), ISO 27001 certification for information security management, alignment with the Digital Economy Council of Australia’s industry code of conduct and completion of multiple independent external statutory audits in accordance with Australian Auditing Standards.
CoinSpot was the first Australian crypto exchange to complete an external statutory financial audit, receiving the highest opinion under Australian Auditing Standards.As the regulatory landscape develops, CoinSpot welcomes the direction Australia is heading and is committed to working constructively with regulators to support a framework that protects consumers while enabling innovation.
Ray Osthmuller, Chief Marketing Officer at CoinSpot, said, “We’ve always believed that earning trust isn’t something you talk about – it’s something you prove. Securing an AFSL is a significant moment for CoinSpot and for our community of more than three million Australians who trust us everyday.
“Australians shouldn’t have to choose between innovation and strong consumer protection, they should expect both. This licence means key payment services we provide now and in the future are held to robust regulatory standards, and we believe that’s exactly how the entire crypto industry should evolve. Australia now has a clear regulatory path for crypto, and CoinSpot is proud to be leading the way.”