Updated 30 September 2026: ASIC’s application deadline falls today. Affected digital-asset businesses relying on its transitional no-action position must apply for, or vary, an Australian Financial Services licence by today’s deadline.
The requirement concerns relevant businesses and financial products; it is not a general licensing requirement for people who hold cryptocurrency. Submitting an application does not itself mean a licence has been granted.
ASIC says firms that need an Australian Market Licence or a clearing and settlement facility licence must also notify the regulator in writing and hold a pre-application meeting by the deadline.
What changes from 1 October
From 1 October, businesses that require a licence or authorisation variation but have not met the conditions of the no-action position risk operating in breach of financial-services law.
ASIC says potential consequences include civil and criminal penalties, with fines that can reach up to 10 per cent of annual turnover.
Industry transition accelerates
The regulator has recorded more than 45 licence applications from businesses seeking authorisation to provide financial services involving digital assets since Information Sheet 225 was updated in October 2025.
INFO 225 explains how existing financial-services laws apply to digital assets and related products. It is relevant to digital-asset businesses, brokers, intermediaries, advisers and established financial institutions exploring blockchain and tokenisation.
Australia’s separate Digital Assets Framework Act is scheduled to commence on 9 April 2027. ASIC says many existing authorisations will still be needed after the new framework begins.
Sources
- ASIC — Final call for firms to act before digital-asset licensing deadline
- ASIC — Updates to INFO 225: Digital assets
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