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Australia tightens cryptocurrency regulation, September 30 deadline approaches

2026-09-04 00:16:57
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Australia tightens cryptocurrency licensing rules

Australia has set September 30 as a deadline for affected cryptocurrency companies to meet Australia Securities and Investments Commission (ASIC) licensing conditions. After that deadline, the temporary "no action" relief provided by ASIC will expire, and companies that do not comply will face enforcement action starting October 1.

Companies that conduct business without the necessary financial services authorization can face penalties of up to 10% of their annual turnover. Since the guidelines were updated in October 2025, ASIC has received more than 45 licensing applications related to cryptocurrencies.

Australia's broader digital asset framework will be officially launched on April 9, 2027, when cryptocurrency and tokenized custody platforms will be included in the licensing regulatory system.

New digital asset framework will be implemented in 2027

Australia is building a broader legal framework for digital asset companies. The Companies Act Amendment (Digital Assets Framework) Act of 2026 will take effect on April 9, 2027, bringing cryptocurrencies and tokenized custody platforms under financial services licensing rules.

ASIC pointed out that after the new framework takes effect, many companies may still need to hold current financial services authorizations. Regulators plan to release more standards and guidance documents before the law takes effect to provide companies with future compliance details.

The September 30 deadline brings recent compliance requirements for companies that rely on ASIC's temporary stance. Companies must now decide whether to seek their own licenses or operate through an approved licensed entity.

The move is part of Australia's efforts to incorporate crypto services into the existing financial regulatory system's broad before the launch of a new framework in 2027. ASIC's warning made clear that companies that fail to complete the necessary steps within the stipulated deadline will not be able to obtain protection from temporary relief.

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