James Roberts, Commonwealth Bank General Manager of Group Fraud Management Services cited a huge scale of “investment scams” involving crypto exchanges.
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James Roberts, Commonwealth Bank General Manager of Group Fraud Management Services cited a huge scale of “investment scams” involving crypto exchanges.
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Executives from two of Australia’s “big four” banks have said they won’t allow their retail customers to trade crypto with ANZ adding its happy it didn’t “go head long” into a cryptocurrency offering.
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“We see risks in participating, but we see bigger risks in not participating,” said CBA CEO Matt Comyn on the bank’s recent crypto adoption play.
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“When you look under the hood on that, we’ve concluded that this is a major protocol shift for financial market infrastructure,” said Nigel Dobson, ANZ’s Banking Services Portfolio Lead.
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There are increasingly publicized challenges posed to the Australian cryptocurrency industry by the country’s ‘big four’ banks’ refusal to provide financial services to crypto companies. Many analysts are speculating that the issue will become the catalyst for the development of detailed regulations for the virtual currency era, arguing that the opaque nature of the current […]
The post Analysts Point to Regulatory Vacuum as Driving Australian Cryptocurrency Banking Woes appeared first on Bitcoin News.
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Bitcoiners in Australia claim banks are on purpose freezing their bank accounts, disallowing exchange transfers, and at least one exchange is over-reacting to the freeze. They’re so unnerved they’ve done what any good crypto enthusiast does: air it all on social media and in comment threads. Also read: Bitcoin’s Value — Like Beauty — Is […]
The post Australian Freeze: Big Aussie Banks Denying Bitcoiners appeared first on Bitcoin News.
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