Coinbase Accuses Australian Banks of Unlawful Crypto Restrictions

Coinbase claims that Australian banks' lack of transparency on crypto account closures is undermining public trust in the financial system.

Coinbase has raised alarms regarding an alleged 'unlawful regulatory ban' imposed by Australian banks on cryptocurrency transactions. The exchange argues that the banks' lack of transparency regarding the closure of crypto accounts has led to a significant "crisis of confidence" within the nation's financial landscape.

According to Coinbase, this opacity surrounding banking operations related to cryptocurrencies is detrimental, creating uncertainty among users and investors alike. The company is calling for greater transparency and accountability from financial institutions in Australia to restore trust in the market.