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Australia's Westpac Bank Limits Customer Deposits to Crypto Exchanges Citing Fraud Prevention
(4 hours ago) · 1 source · Summarized by CryptoBipto
Westpac, one of Australia's largest banks, has imposed restrictions on customer deposits to cryptocurrency exchanges, citing fraud prevention rules. The bank has limited the amount customers can transfer to crypto platforms as part of its efforts to protect customers from scams and fraud.
WHY IT MATTERS
When you want to buy cryptocurrency, you typically need to send money from your regular bank account to a crypto exchange — a platform where you can trade crypto.
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SOURCES
- cryptoslate.com
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Banking RestrictionsFraud PreventionCrypto ExchangesAustralian Regulation