ASIC Extends Temporary AFS License Relief for Digital Asset Firms to September 2026
The Australian Securities and Investments Commission (ASIC) has announced a further extension of the temporary enforcement relief for digital asset businesses applying for an Australian Financial Services (AFS) license. The new deadline is set for September 30, 2026, extending the previous cutoff of June 30, 2026 by three months. This relief allows crypto firms that are not yet licensed but are actively pursuing an AFS license to operate without immediate enforcement action, provided they meet certain registration and reporting conditions.
Expanded Scope: Authorized Representatives and Intermediary Arrangements Now Covered
The latest extension also broadens the relief's scope. Beyond direct applicants, digital asset businesses that operate through authorized representatives or intermediary arrangements with licensed entities are now included in the temporary protection. ASIC noted that since it updated its digital asset regulatory guidance in October 2025, it has received approximately 30 AFS license applications from digital asset firms. This indicates growing industry engagement with the licensing pathway.
Independence from the Digital Asset Framework and Future Compliance Risks
Crucially, this extension is independent of Australia's Digital Asset Framework, which was passed by Parliament in April 2026 and is scheduled to come into effect on April 9, 2027. ASIC explicitly warned that firms obtaining an AFS license under the current guidance may still need to secure additional authorizations once the new framework applies. Therefore, current licensing should not be viewed as full compliance under the future regime, and firms must monitor legislative developments closely to avoid regulatory gaps.