Key highlights:
- Australia’s ASIC has given crypto businesses until September 30 to meet licensing conditions or risk enforcement action
- Firms that fail to comply will face criminal or civil penalties, including fines of up to 10% of annual turnover
- More than 45 crypto businesses in Australia have already applied for licences as Australia prepares for its broader digital asset framework in 2027
The Australian Securities and Investments Commission (ASIC) has ordered cryptocurrency businesses operating under temporary regulatory relief to meet full licensing requirements before September 30, 2026. Australia’s financial regulator is brandishing enforcement action against local crypto operators who fail to meet the licensing requirements.
Australia gives crypto firms Sept. 30 deadline or risk fines
In an official release, ASIC noted that crypto firms that require authorization must apply for or vary an Australian Financial Services (AFS) licence by September 30. Businesses requiring an Australian Market Licence or Clearing and Settlement facility licence must instead notify ASIC of their intention to apply and complete a pre-application meeting.
The new order particularly relates to crypto businesses relying on “ASIC’s sector-wide no-action position” for digital assets. Back in December 2024, ASIC rolled out the sector-wide no-action rules to give crypto companies a temporary buffer period to transition to new licensing requirements without facing immediate regulatory enforcement.
"The end of ASIC’s transitional relief for digital asset businesses is a key step in bringing the digital asset industry into a regulated environment, supporting consumer protection and market integrity."
From October 1, firms that require a licence but have failed to satisfy the conditions will be in breach of Australian financial services laws. ASIC warned that enforcement may include both civil and criminal penalties, with fines potentially reaching 10% of annual turnover.
The warning does not mean every crypto company operating in Australia automatically needs an AFS license. ASIC’s guidance requires businesses to assess whether their particular digital assets, products and services fall within Australia’s existing financial-product framework.
More than 45 firms have entered the process
In its statement, ASIC noted it has received over 45 licence applications from businesses seeking authorization for digital-asset-related financial services since it updated its guidance in October 2025.
The figure represents an increase from around 30 applications when ASIC extended its transitional relief in June. The extension moved the original June 30 deadline to September 30 and expanded the relief to some businesses operating under authorized-representative and intermediary arrangements with existing AFS licensees.
The September deadline comes ahead of Australia’s new Digital Assets Framework, which takes effect on April 9, 2027. The framework will establish dedicated rules for digital asset platforms and tokenized custody platforms, with ASIC responsible for licensing and supervision.
Source: ASIC
However, ASIC has stressed that many existing authorizations will remain relevant once the new framework begins. While Australia is hurtling toward clear rules for digital assets, odds of the US getting the CLARITY Act into law are under 50%, with regulators proceeding with rulemaking as an alternative to Congress.
