On Thursday, the Commonwealth Bank of Australia (CBA) (CBA.AX) said it would restrict some cryptocurrency exchange payments as part of new anti-scam efforts.
CBA, Australia’s largest bank, declined to name the crypto exchanges.
From Thursday, the bank will freeze certain crypto exchange payments for 24 hours and set a monthly A$10,000 ($6,666) transfer limit. The CBA representative failed to explain whether those regulations apply to all crypto exchanges or a select handful.
“Customers who make payments to crypto-currency exchanges are currently facing a significantly higher risk of potentially being scammed,” said CBA’s group fraud management services general manager James Roberts in a statement accompanying the move.
Westpac, another “big four” bank, stopped Bitcoin payments last month to prevent scam losses. No swaps were identified.
Binance Australia informed clients weeks earlier that Cuscal has cut access to Australian currency deposits and withdrawals.
Bitcoin on the Australian site traded 20% below competitor exchanges in a rush to quit.
This week, U.S. regulators sued Binance, the world’s largest cryptocurrency exchange, for inflating trading volumes and stealing user funds.
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