HSBC Australia recently told customers it will stop processing payments to crypto exchanges starting July 24. This decision is attributed to customer protection concerns, a bank spokesperson confirmed. However, the bank said it will continue allowing customers to receive funds from crypto exchanges into their accounts. HSBC Australia justified its decision with a reference to data from Australia’s competition and consumer regulator. It pointed out that Australians suffered up to $171m in losses due to crypto-related investment scams in 2023. Further, the lender’s decision follows a similar move from Australia’s “Big Four” banks about a year ago.
Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!
Android: https://links.hashd.co/android
Comments