Australian banks claim 40% of scams 'touch' crypto as it defends restrictions
During a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they added restrictions on payments to local crypto exchanges. Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto. During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light on the bank's restrictions on crypto exchange payments, noting it was put in place after seeing an alarming rate of scams that ended up involving cryptocurrency. “One in three of the dollars that are scammed from Australians touch crypto, one in three. So it's the single largest lever that we have to reduce this impact on our customers,” she said. Commonwealth Bank's Sophie Gilder speaking in a panel during Australian Blockchain Week. Source: Cointelegraph Nigel Dobson, ba...