Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Australia's Commonwealth Bank Will Partially Restrict Payments to Crypto Exchanges

Australia's Commonwealth Bank Will Partially Restrict Payments to Crypto Exchanges

CoindeskCoindesk2023/06/08 12:30
By:Jamie Crawley

The Australian bank announced on Thursday that will decline "certain payments" to crypto exchanges or hold them for a period of 24 hours

Australian dollars (Squirrel photos/Pixabay)

Commonwealth Bank (CBA) will apply partial restrictions to payments to cryptocurrency exchanges as a means of protecting customers from scams.

The Australian bank that it will decline "certain payments" to crypto exchanges or hold them for a period of 24 hours, a time period which it said could vary.

The bank also plans to introduce a limit of payments to crypto exchanges of 10,000 Australian dollars ($6,700) per calendar month in the months ahead.

“With the incidences of scams increasing and in many cases customers suffering significant losses from being scammed, the introduction of 24 hour holds, declines and limits on outbound payments to cryptocurrency exchanges will help reduce both the number of scams and the amount of money lost by customers," James Roberts, Commonwealth's general manager of fraud management, said.

Commonwealth is following in the footsteps of fellow Australian bank Westpac which along with certain other platforms. A number of U.K. banks have also to exchanges.

Read More:

Edited by Parikshit Mishra.


68

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

July 2024: Optimizing Balanced Through New Development

In July, ICON advanced its integration efforts and optimized system performance. Key achievements including completion of audits for Stellar, and contracts for Solana. Looking ahead to August we anticipate the deployment of Sui contracts to mainnet.|

Icon Foundation Blog2024/08/06 11:15
July 2024: Optimizing Balanced Through New Development