Australia Tightens Visa Rules to Cut Migration

This is a migration-policy story with a crypto/RWA angle only insofar as Australia has been a notable source of skilled labour for the sector, and tighter dependent and working-holiday routes narrow one pipeline. The numbers are framed as targets rather than outcomes, and the fiscal-year framing means the effect lands gradually. The open question is whether the lower net migration path is achieved through visa design or through weaker demand, since those imply very different labour-supply outcomes for domestic tech and fintech hiring.