ASIC Sets September 30 Deadline for Crypto Firms Licensing or Wind-Down
Australian regulator requires qualifying digital-asset firms to enter licensing, notification or wind-down routes by September 30 or lose temporary no-action protection.
The Australian Securities and Investments Commission has set a final September 30 deadline for crypto firms whose offerings qualify as financial products. Firms must apply for or vary an Australian Financial Services License, become an authorized representative, notify ASIC of intent to apply for a market license after a pre-application meeting, or begin winding down operations.
From October 1, non-compliant firms lose the benefit of ASIC’s temporary no-action position. Breaches of financial-services law can carry civil and criminal penalties, including fines up to 10 percent of annual turnover.
Scope and exclusions
Market operators must notify ASIC in writing and attend a pre-application meeting by September 30, with a formal application due within 12 months. The no-action policy excludes crypto lending, earn offerings, most digital-asset derivatives, and certain non-cash payment facilities. ASIC has recorded more than 45 applications for digital-asset financial-services authorizations since its October 2025 guidance update.
Whether a specific business or product falls inside the regime depends on the rights, benefits, expectations and features attached to each offering. The exact number of firms that must act by the deadline is not stated.