While his Prime Minister was shaping up to threaten an early election, Federal Treasurer Scott Morrison was busy yesterday announcing several changes that the Turnbull Government would rely on to make Australia's fintech sector "internationally competitive and energise the broader local economy by attracting and keeping talented entrepreneurs in Australia." The Government's plans include:  ensuring access to concessional tax treatment for venture capital investments in start-up fintech firms; commissioning the Productivity Commission to outline options to increase data availability and access to facilitate new products and better consumer outcomes; and taking action to address the 'double GST' treatment of digital currencies. The Government will also work with the fintech industry on further reforms to:  allow all companies regardless of assets and turnover to be eligible for equity crowdfunding; remove cooling off periods and allow platforms to use their discretion to cancel an investment for legitimate reasons; and review Australian Market Licence requirements for crowdfunding intermediaries. After launching the new era of a fintech powered economy in the Stone & Chalk fintech hub in Sydney, Morrison went on announce further support for the fintech sector.  "We will review the uptake of the fintech services by Commonwealth agencies. In addition to this, the Government's fintech advisory group continues to work through all of these details," he said.  "Some of the other issues the group is continuing to work on is increased facilitation of digital advice models, the uptake of blockchain technologies, the evolution of Australia's crowd funding system, the data transparency and comprehensive credit reporting arrangements and the emerging insurance models that sit around these arrangements," Morrison said. There is also the issue of the "regulatory sandbox", with Morrison noting: "We know that ASIC have already got tools available to them to create what you'd call a virtual sandbox at the very least." Morrison's comments were backed by Jost Stollmann, chief executive officer of Tyro Payments, who predicted Australia could become the fintech hub of Asia "within years" if the Federal Government proceeded with the reforms announced by Morrison.  "The Australian Government's package of measures announced today will help unleash a new generation of entrepreneurs and investors who want to make everything we do quicker, easier and more productive," Stollmann said.  "They will help create a new digital backbone to the economy that needs to diversify to counter the downturn in the resources sector."  Stollmann also sits on the Federal Governments fintech Advisory Group that advises the Treasurer on how to improve Australia's international competitiveness in the digital economy.