On 25 June 2026, the Australian Securities and Investments Commission (ASIC) announced that it was extending its sector-wide no-action position on digital asset businesses to 30 September 2026.

Background

In Consultation Paper 381 Updates to INFO 225: Digital assets: Financial products and services (CP 381), ASIC proposed a class no-action position for the transition to licensing for providers of financial services involving digital asset financial products operating in Australia. Following CP 381 feedback, ASIC decided to issue the class no-action letter on 29 October 2025. Under this letter the no-action position was due to expire on 30 June 2026. The no action letter has now been updated so that the deadline is 30 September 2026. ASIC has also extended the letter’s scope.

Extension

By extending the deadline to 30 September 2026, ASIC has indicated its intention to take a pragmatic decision in light of industry transition challenges. The extension and broader scope are intended to support an orderly path to licensing, while maintaining a focus on investor protection and market integrity.

ASIC is also expanding the scope of its no-action position to include digital asset businesses operating under, or entering into:

  • authorised representative arrangements with an Australian financial services (AFS) licence holder; and
  • intermediary authorisation arrangements with an AFS licence holder.

The deadline extension also applies to firms needing an Australian Market Licence or Clearing and Settlement facility licence, which includes requirements to notify ASIC in writing of their intention to apply and hold a pre‑meeting with ASIC.

Next steps

Digital asset businesses providing financial services should, on or before 30 September 2026, either lodge an AFS licence application (or a variation to an existing licence), or put in place an authorised representative or intermediary authorisation arrangement with an AFS licence holder in order to fall within the extended no-action position. 

Firms requiring an Australian Market Licence or a Clearing and Settlement facility licence must, by the same date, notify ASIC in writing of their intention to apply and attend a licensing pre-meeting, and then lodge their application within 12 months of that notification. 

Firms should also confirm they meet the letter’s conditions — including having first provided the relevant service in Australia on or before 31 December 2025, obtaining Australian Financial Complaints Authority membership where retail clients are involved, and registering as a foreign company with a local agent where applicable. Firms should note that crypto lending/earn products, non-cash payment facilities (other than stablecoins) and most derivatives fall outside the relief, with queries directed to fintech@asic.gov.au.