**News Flash: Australia Tightens Crypto Regulations**

Australian regulators are gearing up to mandate financial services licenses for cryptocurrency exchanges, according to the Australian Financial Review. Alan Kirkland, an ASIC commissioner, revealed at the AFR Crypto and Digital Assets Summit in Sydney that the new rules aim to bring major crypto assets like Bitcoin and Ether under the Corporations Act.

The ASIC plans to update its regulatory guidance in November to clarify how specific crypto tokens and products should be treated. Kirkland emphasized that many crypto firms in Australia will likely need licenses under the current law. Stay tuned for more updates on this developing story.