Australia Extends Crypto Licensing Transition for Digital Asset Firms

After Australia brought some digital asset activities under financial-services regulation, affected companies are generally required to apply to the Australian Securities and Investments Commission, or ASIC, for an Australian financial services license. The licensing requirements cover client assets, risk management and disclosures, making the transition arrangements critical to whether companies can continue operating while adapting to the rules.

ASIC said it had extended its no-action period for digital asset companies seeking licenses until September 30 and broadened the range of businesses covered. The regulator said the move would give companies more time to understand its updated regulatory guidance, assess their licensing obligations and prepare their applications.