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On 30 June 2026, the Australian Securities and Investments Commission (ASIC) will end its no-action position for digital asset service providers, requiring firms to have applied for an Australian Financial Services (AFS) licence or a variation to their existing licence by this date. ASIC released updated guidance on digital asset financial products, including stablecoins, wrapped tokens, tokenised securities, and digital asset wallets. The updated Information Sheet 225 (INFO 225) clarifies which digital asset products constitute financial products under Australian law. Businesses requiring an Australian Market Licence or Clearing and Settlement facility licence must notify ASIC in writing of their intention to apply and hold a pre-meeting with ASIC by the same deadline. Firms that fail to apply or comply by 30 June 2026 risk breaching financial services laws, exposing them to civil and criminal penalties, including fines reaching up to 10 percent of annual turnover. Alternatively, some firms may comply by becoming an authorised representative of an AFS licensee by the deadline. The no-action position was granted to enable providers to consider the guidance and apply for new or varied licences. ASIC's updated INFO 225 aligns with the government's broader digital asset reforms, which will bring digital asset platforms (DAPs) and tokenised custody platforms (TCPs) under the financial services licensing regime from 9 April 2027. The Corporations Amendment (Digital Assets Framework) Act 2026 received Royal Assent on 8 April 2026 and will commence on 9 April 2027, providing an 18-month implementation timeline. ASIC has published a roadmap detailing its approach to consulting on new standards and guidance. Many digital asset firms applying for licences under INFO 225 will subsequently need to add DAP and TCP authorisations once the new regime commences. Digital asset service providers should assess their licensing requirements immediately and submit applications by 30 June 2026 to avoid regulatory breach.