ASIC Licensing Deadline: Digital Asset Providers Must Act by September 30, 2026
Australian regulator ASIC is ending transitional relief for some digital asset service providers. Affected entities must apply for a license or amend an existing authorization by September 30, 2026.
The ASIC licensing deadline is approaching for companies providing financial services related to digital assets in Australia. On September 3, the regulator confirmed that entities using its transitional “no-action” position must submit an application for an Australian Financial Services (AFS) licence, or apply to amend an existing license, no later than September 30, 2026.
From October 1, legal risk increases for companies that need a license but do not qualify for transitional relief. ASIC said they may be breaching financial laws. Possible consequences include civil and criminal penalties; fines may reach 10% of annual turnover.
Who is affected by the ASIC licensing deadline
The notice is directed at businesses whose digital asset services fall under existing Australian financial services rules. In practice, this may include exchanges, custodial firms, or intermediaries if their specific activity requires the relevant authorization.
ASIC is not announcing a new specific enforcement action against named crypto firms. It is a final warning before the end of the transitional period during which the regulator applied a “no-action” position. Describing the move as a blanket crackdown on crypto businesses would therefore be inaccurate.
Entities that need an Australian Market Licence or a license for a Clearing and Settlement facility instead of an AFS license face the same deadline. By September 30, they must inform ASIC in writing of their intention to apply and hold a preliminary meeting with the regulator.
More than 45 applications since October 2025
ASIC said it has recorded more than 45 applications for relevant licensing authorizations since updating INFO 225 in October 2025. The figure does not indicate how many companies still need to act or how many applicants will ultimately receive a license.
For affected providers, the September deadline is primarily an immediate obligation to comply with regulatory requirements. If a company does not complete the transition or obtain the required authorization, it has not yet been confirmed how many entities will have to restrict or end their services. For clients, the process may mean more regulated oversight, but for some services it could also mean changes or restrictions.
This is not yet the Digital Assets Framework regime
ASIC also distinguishes the current deadline from the separate Corporations Amendment (Digital Assets Framework) Act 2026. This broader framework for digital assets will take effect on April 9, 2027.
The September deadline is therefore not the effective date of the new Digital Assets Framework regime. It concerns companies transitioning to compliance with existing licensing rules. At the same time, ASIC is preparing to implement the new framework, including operational standards and guidance for digital asset platforms and tokenized custody.
Through the end of September, it will be important to monitor the number of additional licensing applications and announcements from major providers. After October 1, it will also become clear whether the regulator publishes specific supervisory or enforcement proceedings against companies that lack the required authorizations.
Sources
- ASIC — Final call for firms to act before ASIC’s digital asset licensing deadline – Primarily confirms the September 30, 2026 deadline, companies’ obligations, possible penalties, more than 45 applications, and the DAF Act effective date.
- ASIC — ASIC's roadmap for digital assets law reform implementation – Confirms the plan to implement the new regime, ASIC’s role, and forthcoming standards for digital asset platforms and tokenized custody.
- Cointelegraph — Australia warns unlicensed crypto firms of fines up to 10% of annual turnover – Independently summarizes ASIC’s warning today and the transitional relief deadline.
Verified and updated: 09/03/2026 13:31
