Crypto Collective

#158 - The Vote That Almost Banned Bitcoin (And Why They'll Try Again)


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Wall Street came closer than anyone realises to taking control of Bitcoin through a bill most people never read. In this new episode, Matt breaks down how the Clarity Act almost reshaped crypto custody forever, why the vote was pulled at the last minute, and how Australia’s 2027 surveillance regime fits into the same push for control.

◼️ What the Clarity Act really contained and who it empowered

◼️ Why banks pushed for custody control and how it sidelines crypto‑native companies

◼️ The surprising crypto leaders who supported the bill and the backlash that followed

◼️ How Australia’s 2027 reporting regime creates total visibility over every crypto transaction

◼️ What self‑custody, offshore structures, and tax residency shifts actually mean in practice


Timestamps:

00:00:00 - Introduction

00:00:32 - Australia's 2027 Crypto Surveillance

00:00:43 - Breakdown of the Clarity Act

00:01:26 - Banks' Motive for Supporting the Clarity Act

00:02:31 - Brad Garlinghouse's Support for the Clarity Act

00:03:12 - Charles Hoskinson's Criticism

00:04:06 - Australia's Crypto Surveillance Approach

00:05:11 - Potential Ban on Self-Custody in Australia

00:06:16 - Offshore Structures for Tax Minimization

00:07:10 - Cost and Complexity of Offshore Structures

00:08:24 - Borrowing Against Bitcoin

00:09:07 - Countries with Better Crypto and Privacy Laws

00:10:45 - Summary of the Clarity Act and Australia's Surveillance

00:11:07 - Proactive Steps for Bitcoin Protection

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**DISCLAIMER**

This is not financial, investment, tax, or legal advice. I'm not a licensed advisor. Bitcoin and SMSF strategies can carry significant risks; consult a qualified tax accountant and SMSF specialist before making any decisions. I may earn affiliate commissions from links I share, but this doesn't affect your cost.


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Crypto CollectiveBy Matthew Fraser