According to @MikeBacina on LinkedIn, the Australian Tax Office is under pressure as a legal dispute questions whether bitcoin should be classified as more than 'mere information', potentially requiring a USD$400 million refund to taxpayers. This case hinges on the legal definition of bitcoin and could set a precedent for digital asset taxation. Traders should monitor the outcome, as a decision favoring refunds could drive increased demand and volatility in the Australian crypto market, impacting global bitcoin liquidity and tax compliance strategies (Source: LinkedIn, Mike Bacina, May 19, 2025).