World Economy

Australia Freezing Accounts of Bitcoin Users

Australia Freezing Accounts of Bitcoin UsersAustralia Freezing Accounts of Bitcoin Users

Reports are emerging on Twitter that bank accounts in Australia associated with Bitcoin purchases are being frozen alongside transactions that users may be making to some of the country’s most popular cryptocurrency purchasing sites, reported. The Australian banks which have been accused of freezing accounts of Bitcoin users have been listed as the National Australia Bank, ANZ, Commonwealth Bank of Australia, and Westpac Banking Corporation. The claim was made in a tweet saying that user activity associated with certain websites (BTC Markets, CoinSpot Australia, CoinJar, and Coinbase)  have been affected as triggering suspicious activity on Australian users’ bank accounts. Reports are, however, not widespread, and it remains unclear as to why certain users seem to have been targeted. Similar instances of freezing bank accounts linked to cryptocurrency are not new, as there have been a number of instances reported in the US. Not to mention concerns recently in Bulgaria that banks were cracking down on exchange use in the country.


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