Australian digital asset businesses are approaching a real regulatory deadline: ASIC's sector-wide "no-action" position for firms providing financial services involving digital assets expires on 30 September 2026. Here's what that actually covers.
What the no-action position is
ASIC updated its guidance (Information Sheet 225, on digital assets as financial products and services) and, alongside that update, issued a transitional "no-action" position — meaning it would not take enforcement action against certain unlicensed conduct involving digital-asset financial products, provided a business took specific steps (such as lodging an Australian Financial Services licence application or variation) by a set deadline. That deadline was originally 30 June 2026.
Why the deadline moved to 30 September
On 25 June 2026, ASIC extended the no-action position by three months, to 30 September 2026, and broadened its scope to also cover businesses operating as authorised representatives or under intermediary authorisation arrangements with an existing AFS licensee — not only businesses applying for their own licence directly.
What businesses actually need to have done
- Lodged an AFS licence application, or an application to vary an existing licence, by 30 September 2026 — or
- Entered into an authorised representative or intermediary authorisation arrangement with an existing AFS licensee, or
- For businesses needing an Australian Market Licence or Clearing and Settlement facility licence, notified ASIC in writing of their intention to apply and held a pre-application meeting
Businesses that don't take one of these steps risk operating in breach of financial services law after the deadline, which carries meaningful civil and criminal penalties.
How this differs from AUSTRAC and the Digital Assets Framework
This is a distinct process from AUSTRAC's AML/CTF virtual asset service provider (VASP) registration, and it's also separate from the broader Corporations Amendment (Digital Assets Framework) Act 2026, which received Royal Assent in April 2026 but doesn't commence until 9 April 2027. The AFS licensing deadline is about compliance under existing financial services law, right now — not the future dedicated digital-asset licensing regime that's still more than a year away.
What this means if you already use a crypto exchange
The deadline is aimed at businesses, not individual users, and it doesn't require you to do anything directly. That said, it's a reasonable moment to check whether a platform you use has publicly addressed its licensing position, alongside checking its AUSTRAC registration status on the public VASP register. Regulatory status is one input into choosing or continuing to use a platform, not the whole picture — see our guide on choosing a crypto exchange in Australia for the rest.
This is a fast-moving regulatory story. This article reflects ASIC's published position as of September 2026 and should be revisited once the 30 September deadline has actually passed and its practical effects become clearer.