- Australian cryptocurrency companies have until September 30, 2026, to apply for financial services licenses, according to ASIC.
- In order to operate under temporary regulatory relief, cryptocurrency companies need to obtain an AFS license or upgrade their current permission.
- Civil and criminal sanctions, including fines of up to 10% of yearly turnover, may be imposed on noncompliant businesses.
- Since revising its guidelines in October 2025, ASIC has received over 45 license applications pertaining to digital assets.
Australian crypto companies that have been using regulatory relief must apply for an Australian Financial Services (AFS) license or update their existing authorization by September 30 2026. This requirement comes from the Australian Securities and Investments Commission (ASIC).
The deadline is a step in Australia’s effort to bring digital asset businesses under a stronger regulatory framework. If Australian crypto businesses do not take the required action before the deadline, they could face criminal penalties.
ASIC Tightens Crypto Licensing Rules
ASIC has urged digital asset businesses that require financial services authorization to submit their AFS license applications or seek the necessary changes to their existing licenses before September 30. Businesses that may require market or clearing and settlement licenses must also contact ASIC and arrange a pre-application meeting.
The regulator’s warning is particularly important for crypto companies operating under ASIC’s temporary “no-action” position. The break gave some businesses the chance to keep working while they got ready for the licensing procedure.
This help will stop after September 30. Starting on October 1, businesses that need permission but haven’t done what is needed might be seen as breaking financial services laws.
ASIC has said that breaking these rules could lead to penalties like fines that can be as high as 10% of a company’s yearly revenue, plus possible criminal charges.
More Than 45 Crypto License Applications Submitted
The approaching deadline has already triggered a rise in applications from Australia’s digital asset industry.
ASIC said it has received more than 45 digital asset-related license applications since it updated its regulatory guidance in October 2025. The increase suggests that more crypto companies are moving to secure formal regulatory approval as the transition period comes to an end.
The temporary relief period was previously extended from June 30 to September 30 following feedback from the crypto industry. ASIC also expanded the relief to cover certain businesses operating as authorized representatives of licensed firms and companies using specific intermediary arrangements. The extension gave businesses additional time to prepare applications while maintaining the regulator’s focus on compliance.
Australia Prepares For New Digital Asset Framework
The September deadline is part of a broader shift in Australia’s crypto regulation. A new Digital Asset Framework is scheduled to take effect on April 9, 2027.
The framework is expected to establish clearer requirements for digital asset service providers, including areas such as licensing, custody and operational standards.
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