Bitcoin

This event is part of a broader trend of governments tightening tax policies on innovation-driven sectors. While Australia's crypto ecosystem is relatively small compared to the US, EU, or Asia, a more hostile tax regime could accelerate capital and talent migration to friendlier jurisdictions like Singapore or the UAE, reducing local liquidity but having negligible impact on global market dynamics.

Independent senator Pocock urges changes to capital gains tax as PM Albanese dismisses AI-generated meme campaign from startup founders opposing the proposed increase.