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      ASIC Sets Deadline for Digital Asset Firms to Complete Licensing Transition

      The Australian Securities and Investments Commission (ASIC) has issued a warning to digital asset businesses, urging them to finalize their licensing transition by September 30, 2026. This deadline comes as the sector-wide no-action relief period nears its conclusion, requiring firms involved in digital asset-related financial products and services to apply for or modify their Australian Financial Services licenses as necessary.

      Businesses that require an Australian Market License or Clearing and Settlement facility authorization must also inform ASIC in writing and arrange a pre-application meeting by the same date. Failure to comply with these requirements after October 1 could result in breaches of financial services law, potentially leading to civil or criminal penalties, with fines reaching up to 10% of a firm's annual turnover.

      Since the update of ASIC's digital asset guidance in October 2025, over 45 license applications have been received. This licensing transition is a precursor to the implementation of Australia’s new Digital Assets Framework, which is set to begin in April 2027 following its passage in Parliament in April 2026. ASIC has indicated that the rollout will involve new standards, regulatory guidance, and ongoing engagement with the industry.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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