The Australian Securities and Investments Commission has told providers of financial services involving digital asset financial products to decide quickly whether they need an Australian Financial Services licence or a variation to an existing licence and to apply by 30 June 2026, when its sector-wide no-action position expires. Firms that need a licence or licence variation but do not apply by that deadline risk breaching financial services laws, with unlicensed conduct carrying civil and criminal penalties including fines of up to 10% of annual turnover. The reminder follows ASIC’s updated Information Sheet 225, which sets out what digital asset products are considered financial products, including stablecoins, wrapped tokens, tokenised securities and digital asset wallets. Businesses that require an Australian Market Licence or Clearing and Settlement facility licence must notify ASIC in writing of their intention to apply and hold a pre-meeting with ASIC by 30 June 2026. Depending on the services provided, some firms may instead meet requirements by becoming an authorised representative of an AFS licensee by that date. Relief for the distribution of certain stablecoins and wrapped tokens remains in place. The updated guidance is intended to support the new legislative framework under the Corporations Amendment (Digital Assets Framework) Act 2026, which commences on 9 April 2027 and brings digital asset platforms and tokenised custody platforms into the financial services licensing regime after an 18-month implementation period. ASIC has also published an implementation roadmap covering its planned consultations on standards and guidance, and many firms that apply for a licence under Information Sheet 225 are expected to need additional digital asset platform and tokenised custody platform authorisations once the new regime starts.
Australian Securities & Investments Commission 2026-05-04
Australian Securities and Investments Commission urges digital asset firms to apply for licences by 30 June 2026 before no action relief expires
The Australian Securities and Investments Commission has reminded providers of digital asset financial products to promptly assess their licensing needs ahead of the expiry of its sector-wide no-action position, warning that unlicensed conduct may attract civil and criminal penalties of up to 10% of annual turnover. Updated Information Sheet 225 clarifies which digital asset products are financial products and outlines licensing pathways, while certain relief for stablecoins and wrapped tokens remains. The guidance supports implementation of the Corporations Amendment (Digital Assets Framework) Act 2026, under which digital asset and tokenised custody platforms will enter the financial services licensing regime after an 18‑month transition, with ASIC signalling further consultations.