ASIC 2026 outlook: Crypto, AI and payments at the perimeter
Australia’s Securities and Investments Commission (ASIC) has identified digital assets as a “regulatory perimeter” risk in its Key Issues Outlook 2026, grouping crypto with artificial intelligence and payments. The regulator said its priorities for 2026 include maintaining clarity around licensing boundaries and strengthening oversight at the edges of existing frameworks.
In the report published on Tuesday, ASIC cited risks associated with unlicensed activity, misleading conduct and operations that fall outside established licensing, disclosure and conduct regimes. The outlook noted that decisions on whether new categories of crypto products should be brought within formal licensing requirements rest with the government.
Crypto listed alongside AI and payments
ASIC said technology-enabled financial services, including crypto platforms and AI-driven tools, challenge current regulatory frameworks. The regulator warned that some firms may attempt to remain outside regulation by exploiting unclear boundaries, adding that ensuring licensing clarity and effective perimeter oversight will remain a priority in 2026.
Digital assets highlighted amid ongoing enforcement
The focus on digital asset entities follows continued enforcement actions involving unlicensed crypto activity. On Tuesday, an Australian federal court ordered BPS Financial to pay 14 million Australian dollars ($9.3 million) in penalties for misleading representations and unlicensed conduct related to its Qoin Wallet product.
Separately, Australia is progressing toward bringing crypto firms within the existing financial licensing regime. In November, the Treasury released draft legislation proposing that digital asset platforms be required to hold an Australian Financial Services Licence, extending core financial services obligations to crypto businesses. The proposal would require licensed platforms to act efficiently, honestly and fairly, provide clear disclosures to users, and maintain appropriate risk management and compliance controls.
The bill, which has moved through consultation and is expected to reach Parliament, would apply ASIC’s conduct, disclosure and risk requirements under existing law to crypto trading and custody platforms.
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