Australian’s Biggest Lender Plans to Curb Payments to Crypto Exchanges
- CBA will set a monthly limit for payments to crypto platforms
- Some transfers to such venues will be declined or slowed down
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Australia’s banking sector is making it harder to transfer funds to cryptocurrency exchanges, citing the risk of scams.
The latest step came from Commonwealth Bank of Australia, which plans to impose a A$10,000 ($6,663) monthly limit on payments to digital-asset trading platforms. Some transfers will be held for 24 hours or declined, the lender also said in a statement on Thursday.