Fear or greed: Why are Australian banks slicing off Bitcoin businesses?

Throughout 2015, Bitcoin exchanges, mining, and trade firms in Australia perceived letters from their bankers. The summary was a same; a blurb banks were withdrawing their services. The banks gave small reason for a move, though these stop of use notices set a dangerous fashion that other countries could follow.

“Our members have been incompetent to obtain any grave construction on a reasons for closure, solely for references to process or risk. Just what policies or risks these are have not been specified,” Ron Tucker, ex-chairman of attention physique The Australian Digital Currency Commerce Association, complained behind in September.

At that indicate a Nationals Senator Matthew Canavan wrote to a Australian Competition and Consumer Commission (ACCC) to ask for an review into a expected collusion among blurb banks to suppress what could spin out to be their competition.

“It appears to me to be an extraordinary fluke that a series of vast banks have all of a remarkable motionless to repudiate services to fledgling Bitcoin and digital banking operators,” Canavan celebrated in a letter.

Labor Senator Sam Dastyari, who chaired a Senate Economics References Committee conference into digital currency, also remarkable a development. “I am endangered that there is an claim that Australian



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