🚨 BREAKING: Australia to Tax Unrealized Capital Gains + New Crypto ATM Rules Incoming 🇦🇺💰
Australia is taking a bold step in financial regulation — and it's turning heads 👀
🔻 Here’s what’s happening:
📅 Starting July 1, a 15% tax will apply to unrealized capital gains for individuals with assets over AU$3M (~US$2M)
💹 Applies to stocks, crypto, & other investments — even if not sold
🧾 First of its kind in the country; planned for the 2025–2026 fiscal year
💬 Industry Reactions:
❌ Tom Lee (Fundstrat CIO): Called it an "insanely bad idea"
💭 David Schwartz (Ripple CTO): Suggested using assets as loan collateral to pay the tax
📉 Critics fear it could drive away investors, especially in volatile markets like crypto
🏧 Crypto ATMs Under Fire: New Rules from AUSTRAC
🔒 New restrictions to combat scams:
💵 Max cash deposit: AU$5,000 (~US$3,250)
🔍 Stricter KYC and enhanced monitoring for all transactions
📈 AUSTRAC reports 150+ scam cases in the last year, with AU$3.1M+ in losses
🧓 72% of usage from over-50s — a key target group for scammers
🛡️ AUSTRAC CEO: Measures aim to prevent fraud and will evolve as needed
⚖️ Big Picture:
Australia is tightening its grip on digital finance — from taxing paper profits to cracking down on ATM fraud. 📉📊
👥 Supporters say it boosts transparency, but critics warn of economic fallout.
