2 years ago
Commonwealth Bank (CBA) volition use partial restrictions to payments to cryptocurrency exchanges arsenic a means of protecting customers from scams.
The Australian slope announced connected Thursday that it volition diminution "certain payments" to crypto exchanges oregon clasp them for a play of 24 hours, a clip play which it said could vary.
The slope besides plans to present a bounds of payments to crypto exchanges of 10,000 Australian dollars ($6,700) per calendar period successful the months ahead.
“With the incidences of scams expanding and successful galore cases customers suffering important losses from being scammed, the instauration of 24 hr holds, declines and limits connected outbound payments to cryptocurrency exchanges volition assistance trim some the fig of scams and the magnitude of wealth mislaid by customers," James Roberts, Commonwealth's wide manager of fraud management, said.
Commonwealth is pursuing successful the footsteps of chap Australian slope Westpac which last period banned transfers to world's largest crypto speech Binance on with definite different platforms. A fig of U.K. banks person besides imposed limits connected payments to exchanges.
Edited by Parikshit Mishra.
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