A bipartisan push by Labor and Coalition senators urging the reserve bank of Australia to recognize Bitcoin as an official currency comes as Bitcoin reaches record highs. With a financial services industry generating $145 billion annually in Australia, the overall economy could be substantially effected if Australia misses the cryptocurrency revolution. This is why the push also comes with encouragement for Australia's central bank to create their own cryptocurrency, something that could very well happen as the bank earlier this year hired an internal group to analyze blockchain technology. Moreover, they're has been pushes in Australia to heighten regulation on Bitcoins. The blockchain technology however could pose as an ultimate victory for the Australian government as it tracks all transactions in a ledger, thereby digitizing the inefficiencies of the overall financial system.
https://www.coindesk.com/lawmakers-want-see-bitcoin-become-official-currency-australia/
http://www.smh.com.au/federal-politics/political-news/bipartisan-push-for-the-reserve-bank-to-back-australian-bitcoin-20170807-gxqrm7.html
https://www.coindesk.com/australia-central-bank-blockchain-research/