🚀 **Crypto Exchanges in Australia: Get Ready for a License to Thrill!** 🇦🇺

Hold onto your digital wallets, crypto enthusiasts! Australian regulators are gearing up to require cryptocurrency exchanges to obtain financial services licenses. ASIC commissioner Alan Kirkland dropped the news at the AFR Crypto and Digital Assets summit in Sydney.

Why the change? ASIC believes many major crypto assets like Bitcoin and Ether are financial products under the Corporations Act. Expect new guidance in November 2024.

Got thoughts? Drop them in the comments! Let's discuss! 💬