Analysts Point to Regulatory Vacuum as Driving Australian Cryptocurrency Banking Woes

in cryptocurrency •  7 years ago 

In relation to cryptocurrencies, the opaque nature of the current legislative system is responsible for Australia's Bitcoin Banking ban. It is estimated by many analysts that this issue will become a catalyst for the development of detailed rules for the discussion of the virtual currency era. They are rapidly promoting challenges to the Australian cryptocurrency industry by the 'big four' banks of the country to refuse to provide financial services to crypto companies.

They are blaming local banks for refusing to provide financial services to the industry, and many Australian cryptocurrency brokers have recently suspended their services.

Source - https://news.bitcoin.com/96866-2/?

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