ASIC’s 30 June 2026 digital licensing deadline

The Australian Securities and Investments Commission (ASIC) has effectively given firms until 30 June, next year, to apply for Australian Financial Services Licenses (AFSLs) to cover their digital offerings.

ASIC has updated guidance deeming that stablecoins, wrapped tokens, tokenised securities and digital asset wallets are financial products.

At the core of the ASIC approach is that the regulator is adopting a no-action position to allow a transitionary period but it has made clear that it is subject to conditions including the requirement to hold Australian Financial Complaints Authority (AFCA) membership.

It also makes clear that financial services relating to crypto lending/earn products, and crypto derivatives – other than wrapped tokens – are excluded from the no-action position.

“The no-action position does not prevent ASIC from taking action where we see egregious conduct, particularly where there is actual or potential harm to vulnerable consumers or widespread misconduct causing serious consequences such as financial loss, reduced market confidence or fraud,” ASIC said.

Announcing the regulatory approach, ASIC commissioner, Alan Kirkland said distributed ledger technology and tokenisation are reshaping global finance.

“ASIC’s guidance provides the regulatory clarity that firms have been calling for to innovate confidently in Australia,” Kirkland said.

“Many widely traded digital assets are financial products under current law – and will remain so under the Government’s proposed law reform – meaning many providers require a financial services licence. Licensing ensures consumers receive the full suite of protections under the law and allows ASIC to act when poor practices lead to harm.

“We recognise that firms will need time to consider the updated guidance and apply for licences, so ASIC has granted a sector-wide no-action position until 30 June 2026. ASIC also proposes to provide relief for stablecoin and wrapped token distributors to smooth the transition to proposed law reform.”

ASIC said it has made an in-principle decision to grant proposed regulatory relief for distributors of certain stablecoins and wrapped tokens, and certain relief for custodians of digital assets that are financial products. Feedback is invited on the draft relief instruments until 12 November 2025.