ASIC sets 30 September 2026 application deadline for digital asset facilities

The deadline concerns an application, not necessarily a granted licence

ASIC has issued a final call to firms affected by the licensing treatment of digital asset facilities. The relevant deadline is 30 September 2026, when eligible firms relying on the transitional arrangement must lodge an application for an Australian financial services licence.

That distinction matters. ASIC’s notice does not state that an application must have been approved, and an AFSL granted, by 30 September 2026. The immediate requirement is to apply by the deadline if the firm is eligible to rely on the transitional arrangement. The firm’s ability to continue the relevant activity will then depend on the terms of that arrangement and its licensing position. ASIC’s final call:

The notice is not a direction to every financial planning practice that advises a client about a digital asset. It concerns firms providing, or otherwise operating, the specified digital asset facility activity covered by ASIC’s licensing position. A practice that merely advises on an investment may therefore need to distinguish its own advice activity from the activity conducted by the facility provider, platform or other service provider.

What advice businesses should establish

The first step is to identify whether the practice, its licensee or a related service entity provides the relevant digital asset facility activity, rather than assuming that any digital asset exposure triggers the deadline. That assessment should be made against the activity described in ASIC’s notice and the firm’s actual operating model.

Where the practice or group is within scope, it should confirm whether it is eligible for the transitional arrangement, what conditions apply, and whether an AFSL application must be lodged by 30 September 2026. ASIC’s general licensing material sets out the application and ongoing management obligations for AFSL holders, including the need to demonstrate that the business can meet its obligations. ASIC’s AFSL guidance: https://www.asic.gov.au/for-finance-professionals/afs-licensees/applying-for-and-managing-an-afs-licence/

For a financial‑planning group, this is a licensee and governance exercise as much as a product exercise. The relevant questions include:

• Which entity conducts the activity
• What authorisations it currently relies on
• Whether the activity is conducted by an authorised representative or another group entity
• Who is responsible for the application and any conditions attached to continued operation

Those questions should be documented rather than left to a platform or technology provider. A platform’s licensing position does not, by itself, establish the authority of a separate advice business or related entity. The licensee should also ensure that its register of representatives, compliance arrangements and client‑facing descriptions accurately reflect the activity it conducts. ASIC provides separate information for licensees and financial advisers about AFSL and authorised‑representative arrangements. ASIC’s adviser and authorised‑representative information: https://www.asic.gov.au/online-services/asic-portals/financial-advisers-and-authorised-representatives/

The practical takeaway is narrower, but more useful, than a general warning about digital assets. By 30 September 2026, an affected facility provider that wants to rely on the transitional pathway needs to have lodged the required AFSL application. Advice practices should ask their licensee now whether the business is actually within that category, what transitional conditions apply, and what evidence will support the licensing decision.