ASIC gives crypto firms three more months for license applications. About 30 submissions since October. Block Earner ruling supports ASIC's stance. New licensing regime starts April 2027.
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Australia’s financial regulator gave digital asset firms three more months to get licensed. The Australian Securities and Investments Commission pushed the no-action relief deadline from June 30 to September 30.
The relief covers companies applying for an Australian Financial Services license under existing financial laws. It also applies to firms needing market or clearing and settlement authorizations. ASIC expanded the scope to include businesses operating through authorized representatives and those using intermediary arrangements with licensed entities.
About 30 applications have been submitted since October 2025, when ASIC updated its Information Sheet 225 guidance on digital assets. The regulator said many digital asset products fall under existing financial product definitions, forcing providers to seek licenses under current rules. ASIC bases its position on technology-neutral language in Australia’s financial laws, which allow digital assets to fit into the existing framework.
The High Court backed that stance in the Block Earner case. The ruling found the company’s crypto yield product qualified as a financial product. ASIC said the decision reinforces its approach to regulating digital assets and confirms that existing laws can apply to crypto-related services.
The temporary relief is separate from Australia’s Digital Asset Framework, passed in April. That regime starts April 9, 2027, and will bring digital asset platforms under the financial services licensing system. It will also apply to tokenized custody platform operators.
ASIC warned that current applicants may need further approvals under the new framework. “Many digital asset firms will need to add DAP and TCP authorisations,” the regulator said in a May announcement. The statement outlined future licensing requirements once the regime begins.
Read more about ASIC's no-action relief extension.
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