SYDNEY, Australia—According to a new report, Bitcoin investors are claiming Australia's banks are freezing their accounts and transfers to cryptocurrency exchanges.
This is the first reported case of a nation’s banks closing accounts simply for investing in cryptocurrencies, Tru News stated.
Tru News reported that cryptocurrency expert Alex Saunders, who has a YouTube channel dedicated to the digital currencies, tweeted out that National Australia Bank, ANZ, the Commonwealth Bank of Australia, and Westpac Banking Corporation were freezing customer accounts and transfers to four different exchanges:
- CoinJar,
- CoinSpot,
- CoinBase, and
- BTC Markets
“Several of Saunders’ Twitter followers said their activities had been flagged as ‘security risks.’ The Sydney Morning Herald reports international transfers involving Bitcoin is prohibited by at least one of the banks in question,” Tru News stated.