Businesses relying on ASIC’s sector-wide no-action position for digital assets have until 30 September 2026 to apply for or vary an Australian Financial Services (AFS) licence or risk operating in breach of financial services law.
ASIC’s no-action position applies to providers of digital asset-related financial products and services.
Firms that need an Australian Market Licence or Clearing and Settlement (CS) facility licence are also being reminded to notify ASIC in writing of their intention to apply and hold a pre-application meeting with ASIC by the 30 September 2026 deadline.
From 1 October, firms that need a licence or variation to their existing authorisation but have not met the conditions of ASIC’s no-action position risk breaching financial services law and could face civil and criminal penalties. This includes potential fines reaching up to 10% of annual turnover.
ASIC has recorded over 45 licence applications from businesses seeking relevant authorisations to provide financial services relating to digital assets, since Information Sheet 225 Digital assets: Financial products and services (INFO 225) was updated in October 2025.
The end of ASIC’s transitional relief for digital assets businesses is a key step in bringing the digital asset industry into a regulated environment, supporting consumer protection and market integrity.
The Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act) comes into effect on 9 April 2027, where many of the existing authorisations will still be required after the new framework commences. The implementation roadmap includes consulting on new standards and guidance, releasing regulatory guides and ongoing industry engagement to facilitate an orderly path to licensing.
Background
ASIC’s no-action position
In December 2024, ASIC consulted on the need for transitional arrangements to give firms time to consider the updated guidance and transition to licensing (CP 381). These transitional arrangements were implemented as a sector-wide no-action position with the release of updated INFO 225 (25-250MR).
In June 2026, ASIC clarified and expanded the full scope and conditions of its no-action position and extended the deadline to 30 September 2026, as a pragmatic response to industry transition challenges.
INFO 225
Updated INFO 225 clarifies how existing laws apply to digital assets and related products.
The guidance is aimed at all firms involved in digital assets, including:
- existing financial services and financial markets businesses, including those exploring the application of blockchain technology to existing financial products and real-world assets (e.g. tokenisation)
- digital asset focused businesses
- brokers and intermediaries
- professional advisers to the above businesses.
Digital Assets law reform
The DAF Act passed Parliament on 1 April 2026, received Royal Assent on 8 April 2026, and will commence on 9 April 2027. The DAF Act provides for an 18-month implementation timeline from passage.
In April 2026, ASIC has set out its roadmap for implementing the new regime to support industry.
ASIC's Moneysmart website has information for investors on the risks of investing in crypto assets.
ASIC is Australia’s corporate, markets and financial services regulator.