Australian banks accused of denying services to crypto firms
Coinbase, one of the world’s largest digital currency exchanges, has accused Australian banks of refusing to provide services to legitimate companies working in the crypto industry, a practice known as debanking.
In a submission to a parliamentary inquiry, the Nasdaq-listed exchange said that the withdrawal of services to digital currency operations and financial technology operations had “evolved from a sporadic operational anomaly into a systemic feature of the Australian financial landscape”. This was “not merely an inconvenience; it is a threat to competition”, it added.
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