Non-Existent Coins Frighten Elites
- How dare people think they are free to be able to trade baseball cards, antiques or bitcoins.
(Sydney Morning Herald) - Bitcoin investors are claiming Australia's banks are freezing their accounts and transfers to cryptocurrency exchanges, with a viral tweet slamming the big four and an exchange platform putting a restriction on Australian deposits.
Cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges - CoinJar, CoinSpot, CoinBase and BTC Markets.
After hundreds of shares and responses to the social media posts calling the banks' alleged behaviour “disgusting” and “appalling” with some threatening to move their accounts, some users said their activities with the cryptocurrency had still been described as a "security risk" by their financial institutions.
Banks were remaining tight-lipped on whether bitcoin activity was causing specific accounts to be closed or frozen, though its understood none had company-wide policies banning cryptocurrency investment activity.
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