Banks Block Crypto Access, Push Australians to Seek Alternatives
Australians continue to encounter financial friction in their interactions with cryptocurrency exchanges and related businesses, despite years of regulatory progress in the space. A recent survey by Binance, which polled 1,900 Australians, revealed that 58% of respondents desired unrestricted access to deposit funds into crypto exchanges, while 22% had switched banks to simplify crypto transactions. Executives from major crypto exchanges have highlighted that inconsistent access to financial services not only complicates user experience but also risks driving activity offshore to less regulated platforms, which could undermine both consumer protection and financial stability [1].
The banking system has imposed notable restrictions on…
