Australian giant bank Commonwealth Bank of Australia (CBA) has restricted payments made with cryptocurrencies, citing frequent fraud cases.
Commonwealth Bank of Australia on cryptocurrencies increasing fraudulent activities has taken action against crypto exchanges to protect its customers. In line with this, the bank has made payments to certain crypto currency exchanges. refuse payments or temporarily freezing took the decision.
The bank has not yet announced which cryptocurrency exchanges it will interfere with. On the other hand, this step is related to payments made to certain cryptocurrency exchanges. will help protect you from fraud risks defined as new measures.
It also limits the monthly deposit limit to cryptocurrency exchanges. $6,700 It was stated that a limit of 10 thousand Australian Dollars would be introduced. According to the statement, this limit to be implemented in the coming months. The Bank is constantly monitoring these measures. will be reviewed And effect will be analyzed. stated.
Head of the Commonwealth Bank’s Anti-Fraud Division James Roberts In his statement on the subject, he made the following statements:
With increasing cases of fraud and in many cases customers suffering significant losses due to being defrauded, 24-hour hold, rejection and limitation on payments to cryptocurrency exchanges will help reduce both the number of frauds and the amount of money lost by customers.
The Commonwealth Bank of Australia’s decision to refuse or temporarily hold payments to certain cryptocurrency exchanges is between the cryptocurrency industry and traditional financial institutions. your interactions its complexity and potential risks highlights.
On the other hand, this means a big turnaround for the bank. Just one of these half a year ago mobile application of the bank CommBank for millions of users was planning to launch cryptocurrency trading service but at this point limitations And sanctions keeps the agenda busy.
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