On 4 May 2026, the Australian Securities and Investments Commission (ASIC) reminded providers of financial services involved in digital assets to decide whether they require an Australian Financial Services (AFS) licence (or variation to their existing AFS licence) by 30 June 2026. After this date, ASIC’s no-action position expires.
Key deadline – 30 June 2026
ASIC updated ‘Information Sheet 225: Digital assets: Financial products and services’ (INFO 225) last year. The guidance is directed at businesses and individuals offering products and services in relation to digital assets. As part of the update, ASIC issued a sector-wide no-action letter, giving providers of financial services involving digital asset financial products until 30 June 2026 to either apply for an AFS licence or vary their existing AFS licence. Businesses that require an Australian Market Licence or a Clearing and Settlement facility licence were also given until 30 June 2026 to notify ASIC in writing of their intention to apply and to hold a pre-meeting with ASIC.
The INFO 225 package also included relief for distribution of certain stablecoins and wrapped tokens. These relief instruments remain in place as part of the transition to the new digital asset and payments services licensing reforms.
DAPs and TCPs
Updated INFO 225 is aligned to and supports the Government’s broader work on the new laws that bring digital asset platforms (DAPs) and tokenised custody platforms (TCPs) under the financial services licensing regime from April 2027. The Corporations Amendment (Digital Assets Framework) Act 2026 (DAF Act) will commence on 9 April 2027. The DAF Act provides for an 18-month implementation timeline. Under the new regime, ASIC is tasked with licensing and supervising DAPs. ASIC’s roadmap for implementing the new regime includes an expected timeline and approach to consulting on the new standards and guidance, including early indications of the content that will be covered. Many digital asset firms that apply for a licence based on INFO 225 will also need to add DAP and TCP authorisations to their licence once that regime commences.