The Australian Securities and Investments Commission (ASIC) has warned crypto firms relying on temporary regulatory relief that they must apply for an Australian Financial Services License (AFSL) or amend their existing license by September 30, 2026. Failure to meet the deadline could result in civil penalties of up to 10% of annual turnover. ASIC also requires firms that need a market license or clearing and settlement license to notify the regulator and attend a pre-application meeting. Starting October 1, 2026, firms that do not meet the conditions of ASIC's "no-action" position but still require authorization may be in breach of financial services law and face civil and criminal penalties. ASIC disclosed that it has recorded more than 45 digital asset-related license applications since updating its guidance in October 2025. On June 25, 2026, ASIC extended the temporary relief period from June 30 to September 30 and broadened its scope. The warning underscores the regulator's increasing scrutiny of the crypto sector.
ASIC Sets September 30 Deadline for Crypto Firms to Obtain Licenses
The Australian Securities and Investments Commission (ASIC) has put crypto firms on notice. If they are operating under temporary regulatory relief, they need to apply for an Australian Financial Services License (AFSL) or change their existing license by September 30, 2026. Miss that deadline, and they could be hit with civil penalties worth as much as 10% of annual turnover.
ASIC also told any firm that needs a market license or a clearing and settlement license to contact the regulator and show up for a pre-application meeting. And from October 1, 2026, any firm that does not satisfy the terms of ASIC's "no-action" position but still needs authorization may be breaking financial services law, exposing itself to civil and criminal penalties. Since revising its guidance in October 2025, ASIC has logged more than 45 digital asset-related license applications. Then, on June 25, 2026, ASIC pushed the temporary relief period from June 30 to September 30 and widened its scope. Plainly, the step fits ASIC's continuing push to pull crypto firms into the regulatory framework.
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