ASIC Sets License Application Deadline
On September 3, the Australian Securities and Investments Commission (ASIC) said firms using its 'no-action position' for the digital asset industry have until September 30, 2026, to apply for or vary an Australian Financial Services (AFS) license. Miss that. And from October 1, they may be in breach of financial services law. ASIC also said any entity that needs an Australian market license or a clearing and settlement (CS) facility license has to notify the regulator in writing that it intends to apply and finish a pre-application meeting by that same deadline.
Penalties and Regulatory Progress
Firms that do not comply may face civil and criminal penalties, and the top fines can reach 10% of annual turnover. Since ASIC updated its digital asset regulatory guidance in October 2025, it has received more than 45 related license applications. The regulator called the end of the transitional regulatory exemption for digital asset businesses a key step toward moving the industry into the formal regulatory framework.
New Legislation on the Horizon
And Australia's Digital Asset Framework Amendment (DAF) Act already passed parliament in April 2026, got royal assent on April 8, and takes effect on April 9, 2027. But even once the new framework is in place, some existing licenses will still apply.