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The Australian Securities and Investments Commission (ASIC) has warned digital asset businesses in Australia to complete their licensing transition by Sept. 30, 2026, as sector-wide no-action relief approaches its end.
Firms providing digital asset-related financial products and services must apply for or vary an Australian Financial Services license where required. Businesses seeking Australian Market Licence or Clearing and Settlement facility authorization must also notify ASIC in writing and hold a pre-application meeting by Sept. 30.
From Oct. 1, firms that need authorization but have not satisfied the no-action conditions risk breaching the financial services law and could face civil or criminal penalties. ASIC said potential fines could reach 10% of annual turnover.
More than 45 license applications have been submitted since ASIC updated its digital asset guidance, Information Sheet 225, in October 2025.
The licensing transition precedes the April 2027 commencement of Australia’s new Digital Assets Framework, which was passed by Parliament in April 2026. ASIC said the implementation process will include new standards, regulatory guidance and continued engagement with the industry.