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Bitcoin investors complain that Australian banks are freezing their accounts
By Jennifer Duke
Sydney Morning Herald, Australia
Saturday, December 30, 2017
Bitcoin investors are claiming that 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.
Cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia, and Westpac Banking Corp. on Twitter for freezing customer accounts and transfers to four bitcoin exchanges -- CoinJar, CoinSpot, CoinBase, and BTC Markets.
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Bitcoin, a currency once known for its use by criminals trading online through a "Silk Road" for drugs and weapons, has become a popular investment option.
After hundreds of shares and responses to the social media posts calling the banks' alleged behavior "disgusting" and "appalling," with some threatening to move their accounts, some users said their activities with the cryptocurrency had still been described as a "security risk" by their financial institutions. ...
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