Australian Banks Reportedly Freeze Accounts of Bitcoin Users

January 3, 2018 in News by RBN Staff


Disclosure: I hold cryptocurrencies.

Image result for bitcoin

At some point, the fiat outflows will cause liquidity problems. That’s my guess as to why they fear cryptos so much.

At the link below, see the comments by user CPL that start out with:

Means they are just about to rob the Australians of their savings and are cutting off all the abilities to move capital out of the system. We are about to watch a ‘bail-in’.

Via: ZeroHedge:

Adding to the pressures on bitcoin early this morning, the Sydney Morning Herald reported that bitcoin users across Australia are reporting that their accounts have been abruptly frozen by the country’s “Big Four” banks. And while the banks have remained largely tight-lipped about the closures, many angry account-holders are jumping to conclusions and blaming the banks for punishing them because of their involvement with bitcoin.

Bitcoin investors are claiming Australia’s banks are freezing their accounts and transfers to cryptocurrency exchanges, with a viral tweet slamming the big four and an exchange platform putting a restriction on Australian deposits.

According to the Herald, cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges – CoinJar, CoinSpot, CoinBase and BTC Markets.