WestPac – DIGIT INFO

Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more

This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more.

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Commonwealth Bank to enable crypto trading for 6.5M Aussies, ‘other banks will follow’

The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

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Three of Australia’s “big four” banks bring bank guarantees on blockchain

Blockchain tech could purportedly reduce the timeline of bank guarantees processes by days.

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Australia Probes Big Four Bank Accused of 23 Million Money Laundering Breaches

Australia Probes Big Four Bank Accused of 23 Million Money Laundering Breaches With stricter new regulations on the horizon for the crypto space around the world, Australians have found that it’s actually their traditional financial institutions that have been breaching well-established anti-money laundering rules and other industry standards this year. Westpac, one of the country’s largest banks, is now under investigation for millions of purported violations of […]

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Aussie Banks Still Cold to Cryptocurrency Businesses Despite Regulation

Aussie Banks Still Cold to Cryptocurrency Businesses Despite Regulation Despite increasing regulation in the cryptocurrency sector, Australia’s major banks maintain cautious policies when it comes to cryptocurrencies. While cryptocurrency businesses appear to challenge Australian banks’ appetite for risk, many institutions permit cryptocurrencies to be purchased using credit cards. Also Read: Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s Credit Card Cryptocurrency Purchases […]

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Australian Banks Fraudulently Collected Fees From Deceased Customers

Australia's Banking Sector inquiry Reveals Massive Cheating as Banks Collect Fees for Dead Customers A national inquiry into the misconduct of Australia’s banking sector has revealed profit-driven malpractice that has shattered customer trust. Some of the country’s largest banks were found guilty of making families homeless and charging fees for non-existent services, sometimes to dead customers. They also caused clients to lose hundreds of millions of dollars through misleading […]

The post Australian Banks Fraudulently Collected Fees From Deceased Customers appeared first on Bitcoin News.

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Leading Australian Banks Allow Customers to Purchase Cryptocurrencies

Three of Australia’s ‘big four’ banks have issued comments regarding their respective policy positions with regards to their customers’ ability to purchase cryptocurrency using accounts issued by said banks. The statements come weeks after reports surfaced detailing an apparent banking embargo on the part of Australian banks targeting cryptocurrency businesses. Also Read: Australian Freeze: Big Aussie […]

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Analysts Point to Regulatory Vacuum as Driving Australian Cryptocurrency Banking Woes

Analysts Point to Regulatory Vacuum as Driving Australian Cryptocurrency Banking Woes 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 […]

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