Australia’s temporary enforcement relief for certain digital asset businesses is set to expire after Sept. 30, leaving firms that require regulatory authorization at risk of civil and criminal penalties, including fines of up to 10% of annual turnover, if they fail to meet the conditions for continued protection.
Businesses that need an Australian Financial Services licence must apply for authorization or request changes to an existing licence by Sept. 30 to satisfy the relevant requirements of the Australian Securities and Investments Commission’s no-action position.
Companies requiring market or clearing and settlement licences face a different process. They must notify ASIC and hold a pre-application meeting before the deadline.
From Oct. 1, businesses that require authorization but have not fulfilled the applicable conditions could be operating in breach of Australian financial services law.
ASIC Records More Than 45 Digital Asset Licence Applications
ASIC said Wednesday that more than 45 digital asset-related licence applications have been recorded since the regulator revised its guidance in October 2025.
That figure has increased from about 30 applications reported when ASIC extended the transition period on June 25. The regulator moved the previous June 30 cutoff to Sept. 30 and widened the relief to include crypto businesses working as authorized representatives of licensed firms or under certain intermediary arrangements.
ASIC’s current transitional enforcement relief is distinct from the broader Australia’s Digital Asset Framework, scheduled to begin on April 9, 2027.