Although I really hope it's true, as one of the people most concerned about Australia's cryptocurrency policy, I think the likelihood of this case causing a shift in Australia's cryptocurrency policy is less than 10%. Let me briefly explain the background of this case: A former federal police officer is suspected of stealing 81.6 bitcoins in 2019. The court defense argues that: Bitcoin is not property, it is just information and cannot be stolen. Judge Michael O'Connell ruled: Bitcoin is more like Australian dollars than foreign currencies, stocks, or gold, and therefore does not constitute property subject to capital gains tax. If the ruling is upheld by the appellate court, it could render the CGT (Capital Gains Tax) levied on BTC over the past few years invalid, and even demand a refund of up to AUD 1 billion from the Australian Taxation Office (ATO). Think better: It is not entirely impossible for the ATO and parliament to redefine the legal status of crypto in order to promote legislative reform or clear amendments. However, what is important comes after this word The possibility of the judgment being upheld in the appeal and ultimately leading to a large-scale tax refund by ATO is low. Ai told me it is about 20% -30%, but personally I think it is below 10%. The original nature of this case is a criminal theft case (federal police are accused of stealing Bitcoin), and the court is determining whether Bitcoin belongs to "stolen property", involving discussions on CGT (capital gains tax), which is an obiter dicta and does not have direct binding force. More importantly, this involves asking the ATO (National Taxation Office) to spit out money. Have you ever seen Pixiu spit out money? If this case is pushed to the high court for trial, it will trigger the coordination of interests among policy, finance, and legislation, and the possibility of judicial initiative breakthrough is very small. Similarly, there are also courts in China that have ruled that Bitcoin is an asset, and many people have reported on it with joy. But is there any connection between this and the current situation of encryption in China and in the sewer? Summary in one sentence: As a positive news, it can boost morale by challenging the "asset qualification" of Bitcoin, and by extension, it can also question the legitimacy of the entire tax logic of encrypted assets. But before it passes, even Australia starts to be as crypto friendly as Dubai? Just wait, unless the United States first legislates on a large scale to implement it, Turkey and Australia may follow suit.