ASIC (Australian Securities and Investments Commission) issued a final warning on Sept. 2, 2026, for crypto firms still operating under temporary enforcement relief. The deadline to submit their licensing applications is Sept. 30, 2026.
Any entity requiring an Australian Financial Services (AFS) licence must submit a new application or vary an existing licence before the deadline expires. Starting Oct. 1, 2026, companies operating without authorization will face civil and criminal penalties. Courts have the authority to determine maximum fines of up to 10% of a company’s total annual turnover per case.
ASIC previously set a June 30, 2026 deadline, then granted a three-month extension while expanding the scope to cover certain authorized representatives and intermediary structures. As a result, the regulator recorded more than 45 digital asset-related licence applications received since the updated guidance in October 2025, up from around 30 applications during the June extension.
“No-Action” Position Is Not a Licence
ASIC emphasized that a “no-action” position is not a licence, not a legal exemption, and not a confirmation of compliance. It merely describes that ASIC does not intend to pursue enforcement action during the transition period. Companies unable to meet the relief conditions must cease relevant services starting Oct. 1.
Assets like Bitcoin may not qualify as financial products on their own. However, related services such as investments, derivatives, or custody remain subject to the licensing regime. Australia’s High Court previously established legal precedent with a 7-0 ruling that Block Earner’s fixed-yield product required a financial services licence.
Submitting a licence application to ASIC also does not guarantee automatic approval. Every applicant must be capable of meeting regulatory standards regarding competence, financial resources, compliance systems, risk management, and dispute resolution.
New Rules Take Effect in 2027
The Sept. 30 deadline is separate from the Digital Asset Framework Act 2026, which Parliament passed on April 1 and will take effect on April 9, 2027. The new law will create specific categories for digital asset platforms and tokenized custody platforms that will be licensed and supervised by ASIC.
For crypto operators in Australia, the focus this month is the legality of daily operations. If paperwork is not sorted now, fines of up to 10% of turnover await next month.
Reported via crypto.news.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
