Australian Securities and Investments Commission (ASIC) has received more than 45 licence applications from businesses seeking authorisation to provide digital asset-related financial services.

Businesses relying on the regulator’s sector-wide no-action position have until 30 September 2026 to apply for or vary an Australian Financial Services licence.

Firms that need an Australian Market Licence or Clearing and Settlement facility licence must also notify ASIC in writing of their intention to apply and hold a pre-application meeting by the same date.

From 1 October, firms that require a licence or variation but have not met the conditions of the no-action position risk breaching financial services law.

They could face civil and criminal penalties, including fines of up to 10% of annual turnover.

ASIC introduced the transitional relief when it updated its guidance on how existing financial services laws apply to digital assets in October 2025.

The regulator clarified and expanded the arrangements in June 2026 and extended the deadline in response to industry transition challenges.

The relief will end before the Corporations Amendment (Digital Assets Framework) Act 2026 takes effect on 9 April 2027.

Many existing authorisations will remain necessary under the new regime.

Featured image: Edited by Fintech News Australia, based on image by sutinyuukrung15 via Magnific