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Aussie banks ANZ and NAB won’t ‘endorse’ retail speculation on crypto

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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. Go to Source Powered by WPeMatico

Aussie Banks Still Cold to Cryptocurrency Businesses Despite Regulation

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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 … Read more

Australian Banks Fraudulently Collected Fees From Deceased Customers

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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 … Read more

Leading Australian Banks Allow Customers to Purchase Cryptocurrencies

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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 … Read more

Analysts Point to Regulatory Vacuum as Driving Australian Cryptocurrency Banking Woes

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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 … Read more