- ASIC warns crypto firms to meet licensing rules by Sept 30 or face penalties.
- Non-compliant firms face civil and criminal penalties, and fines up to 10% of revenue.
- Australian users should verify platform licensing before the October 1 deadline.
The Australian Securities and Investments Commission (ASIC) has warned crypto businesses currently relying on temporary regulatory relief that they must meet the licensing transition rules by September 30, 2026.
From October 1, any company that requires a license but hasn’t met the conditions could be breaking Australian financial services law. Companies that fail to do so might face civil or criminal penalties, and in some cases, fines of up to 10% of their yearly revenue.
The temporary no-action relief was originally supposed to end earlier in 2026, but ASIC pushed the deadline to September 30th and made some changes to the transition arrangements in order to address issues raised by the industry.
Since updating its guidance in October 2025, ASIC says it has received more than 45 applications for digital asset authorizations, a sign Australia’s crypto sector is already getting on board with the new rules.
Notably, the country’s current licensing push is also separate from its broader Digital Assets Framework. The Corporations Amendment (Digital Assets Framework) Act 2026 is scheduled to take effect on April 9, 2027.
The new framework will pull digital asset platforms and tokenized custody services directly under Australia’s financial services licensing system.
What Does The Deadline Mean for Australian Crypto Users?
For everyday Australians using Bitcoin or other cryptos, the biggest change will probably come through the platforms they use and not the blockchain itself.
As such, users shouldn’t worry about Bitcoin or self-custody suddenly being banned after the deadline. Rather, the main question going forward will be whether the crypto platform they’re using has the right license or has made proper arrangements under Australia’s licensing framework.
The result will likely be a clearer split between companies set up to operate within Australia’s financial rules and those that aren’t. It could mean better consumer protection and stronger oversight, but it may also raise costs and prompt some firms to cut back on products or rethink whether they want to continue operating in the country.
Either way, crypto users in Australia should check their platform’s status and keep an eye out for any changes to its Australian services around the October 1 deadline.
Related: Australia Crypto Tax Guide: Capital Gains Tax, Staking and DeFi Explained
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