Australia’s financial regulator has received more than 45 digital asset-related licence applications as temporary enforcement relief approaches its expiration.

Australian digital asset businesses relying on temporary regulatory relief have until September 30 to enter the country’s licensing process or risk civil and criminal penalties, including potential fines of up to 10% of annual turnover.

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The Australian Securities and Investments Commission issued its latest warning on Wednesday, saying companies that need an Australian Financial Services licence must submit an application—or request a variation to an existing licence—before the deadline.

The requirement does not apply automatically to every cryptocurrency business. It covers providers whose digital asset products or services are considered financial products under existing Australian law and therefore

require regulatory authorization.

Businesses that need an Australian Market Licence or a clearing and settlement facility licence must also notify ASIC in writing of their intention to apply and complete a pre-application meeting with the regulator by September 30. ASIC announcement

Temporary relief ends on Oct. 1

ASIC’s sector-wide “no-action” position has temporarily protected eligible digital asset businesses from enforcement while they assess their licensing obligations and prepare applications.

From October 1, companies that require a licence or a change to their existing authorization but have not met the relief conditions could be operating in breach of Australia’s financial services laws.

The end of the no-action period does not mean every crypto product will require an Australian Financial Services licence. ASIC’s updated guidance distinguishes between digital assets that may constitute financial products and those that generally fall outside that classification.

Bitcoin, gaming non-fungible tokens and tokenized event tickets are among the assets that are unlikely to be treated as financial products in ordinary circumstances. By contrast, some stablecoins, wrapped tokens, tokenized securities, digital asset wallets and yield-generating products may come within the existing regulatory framework, depending on how they are structured and offered.

Businesses are responsible for assessing their products and determining whether an authorization is required.

Applications rise above 45

ASIC said it has recorded more than 45 applications from businesses seeking authorization to provide financial services involving digital assets since the regulator updated Information Sheet 225 in October 2025.

The guidance explains how Australia’s existing financial services laws apply to digital asset products and related activities. It is directed at crypto-focused companies as well as brokers, intermediaries, professional advisers and conventional financial services businesses using blockchain or tokenization.

The latest application count represents an increase from June, when ASIC said it had received approximately 30 applications.

On June 25, the regulator extended its no-action period from June 30 to September 30 in response to what it described as industry transition challenges. It also clarified and widened the relief to include certain businesses operating as authorized representatives of licensed firms or through eligible intermediary arrangements.

The extension gave affected companies another three months to prepare their applications or adjust their operations. ASIC has now indicated that businesses should not expect the current relief period to continue beyond the revised deadline.

Separate digital asset framework begins in 2027

The September deadline relates to licensing obligations under Australia’s existing financial services laws. It is separate from the country’s new statutory regime under the Corporations Amendment (Digital Assets Framework) Act 2026.

That legislation passed Parliament on April 1 and received royal assent on April 8. It will take effect on April 9, 2027, bringing digital asset platforms and tokenized custody platforms into a dedicated regulatory framework.

ASIC said many authorizations required under the existing regime will remain necessary after the new law begins. Some companies licensed under the current rules may also need to add further permissions once the Digital Assets Framework takes effect.

The regulator is preparing implementation guidance and standards ahead of the 2027 commencement. In the meantime, affected companies must comply with the September 30 deadline if they want to remain covered by ASIC’s temporary no-action position.