The Commonwealth Bank of Australia (CBA), Australia’s largest bank, has stated that it will deny or temporarily delay certain payments to cryptocurrency exchanges due to the risk of scammers.
The move comes as two major worldwide exchanges face a lawsuit from the US Securities and Exchange Commission, and comes just weeks after another major Australian bank, Westpac, barred customers from interacting with cryptocurrency exchange Binance.
CBA announced on June 8 that it would reject or place a 24-hour hold on “certain payments to cryptocurrency exchanges” as part of “new measures to help protect customers from scam risks associated with making certain payments to cryptocurrency exchanges.”