The Australian Securities and Investments Commission (ASIC) today reminded digital asset firms that they have until 30 September 2026 to apply for or vary an Australian Financial Services (AFS) licence or risk operating in breach of financial services law.

ASIC’s no-action position applies to providers of digital asset-related financial products and services.

Firms that need an Australian Market Licence or Clearing and Settlement (CS) facility licence are also being reminded to notify ASIC in writing of their intention to apply and hold a pre-application meeting with ASIC by the 30 September 2026 deadline.

From 1 October, firms that need a licence or variation to their existing authorisation but have not met the conditions of ASIC’s no-action position risk breaching financial services law and could face civil and criminal penalties. This includes potential fines reaching up to 10% of annual turnover.

ASIC has recorded over 45 licence applications from businesses seeking relevant authorisations to provide financial services relating to digital assets, since Information Sheet 225 Digital assets: Financial products and services (INFO 225) was updated in October 2025.

The end of ASIC’s transitional relief for digital assets businesses is a key step in bringing the digital asset industry into a regulated environment, supporting consumer protection and market integrity.

The Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act) comes into effect on 9 April 2027, where many of the existing authorisations will still be required after the new framework commences. The implementation roadmap includes consulting on new standards and guidance, releasing regulatory guides and ongoing industry engagement to facilitate an orderly path to licensing.