ACCC clears Australian banks of colluding to retard bitcoin competition

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Mr Sims deserted a idea that a ACCCs exploration had unsuccessful to hear from a victims, revelation a Financial Review it had listened from some debanked companies that claimed their businesses had full traceability to residence AML/CTF concerns.

However, he pronounced a banks had given investigators good entrance to papers and away supposing convincing and opposite explanations about a decisions to cut off companies. He pronounced a ACCC had motionless there was now no need to launch an in-depth investigation. 

“We know a regard here, since in a clarity these companies have been released from a marketplace, though there does seem to be a pardonable reason,” Mr Sims said.

“Our investigators are good lerned and can spot things flattering quickly, and this had a smell of being a really reasonable reason … but we will keep examination a zone really closely since we are acutely unwavering that with new economy start-ups, we wish to make certain that a determined players aren’t interlude their progression.”

Mr Sims pronounced it was gratified on bitcoin companies to denote to banks that their systems could be traced and guaranteed opposite breaching AML/CTF requirements, and if banks still refused to understanding with them after that afterwards serve review could be required.

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