Australia’s digital-asset licensing transition has entered its final month. ASIC has issued a final call to digital-asset businesses relying on its sector-wide no-action position. Businesses that need an Australian Financial Services licence must apply for or vary the relevant licence, or otherwise satisfy qualifying transition arrangements, by September 30, 2026.
From October 1, firms that require authorisation but have not met the conditions of ASIC’s relief risk operating in breach of financial-services law.
The no-action position is not a licence
The no-action position is temporary enforcement relief. It is not a permanent exemption, not a licence, and not a declaration that the business is fully compliant.
ASIC introduced the transition after updating INFO 225, which explains how existing financial-services law applies to digital assets and related products.
Which firms are affected?
The broader guidance covers digital-asset-focused businesses, brokers and intermediaries, existing financial-services firms using blockchain or tokenisation, and advisers working with those firms.
Some firms may need a new AFS licence or a variation. Others may operate through qualifying authorised-representative or intermediary-authorisation arrangements. Businesses that need an Australian Market Licence or Clearing and Settlement facility licence face separate transition steps.
What changes after September 30?
The regulatory risk changes materially on October 1. ASIC says firms that require a licence but fail to meet the relief conditions can face civil and criminal penalties. Potential maximum penalties can include fines reaching up to 10% of annual turnover in applicable cases.
That is a statutory maximum, not an automatic penalty for every business.
More than 45 applications
ASIC says it has recorded more than 45 licence applications from businesses seeking relevant authorisations for digital-asset financial services since INFO 225 was updated in October 2025.
This suggests the market is already moving toward formal licensing.
Relationship to the 2027 Digital Assets Framework
The September 30 deadline is not the same as Australia’s broader Digital Assets Framework. The Corporations Amendment (Digital Assets Framework) Act 2026 is scheduled to commence on April 9, 2027.
The transition has two layers: comply with existing financial-services law now, then prepare for the dedicated 2027 framework.
User and exchange impact
Potential outcomes for firms that fail to transition may include service restrictions, Australian market exits, product removal, entity restructuring, onboarding changes or enforcement.
CEXVia does not infer that every currently unlicensed platform will leave Australia. The correct risk is uncertainty until the authorisation route is clear.
Evidence Status
Confirmed
September 30 deadline, October 1 enforcement exposure, licensing transition routes, more than 45 applications and potential civil/criminal penalties.
Developing
Firm-by-firm licensing outcomes, enforcement after October 1, product exits and 2027 DAF implementation.
Risk Assessment
High regulatory / market-access significance.
What to Watch Next
ASIC licence updates, exchange notices, Australian product restrictions, September 30 filings, October enforcement and DAF implementation.
FAQ
Does every crypto company need an AFS licence?
No. It depends on the product, service and legal structure.
Is no-action relief a licence?
No.
What happens October 1?
Firms requiring authorisation but outside relief conditions may face enforcement risk.
Are fines automatically 10% of turnover?
No. That is a potential maximum.
When does the dedicated DAF framework begin?
April 9, 2027.