6/8, 9:36 AM (Source: TeleTrader)
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CBA to block payments to some crypto exchanges

The Commonwealth Bank of Australia (CBA) announced on Thursday that it would implement new anti-scam measures, which include blocking payments to certain cryptocurrency exchanges and restricting customer crypto payments.

A spokesperson for CBA, the nation's largest bank, however declined to disclose the affected crypto exchanges. Starting today, the bank will delay certain payments to crypto exchanges for 24 hours and is planning to impose a monthly transfer limit of A$10,000 to these exchanges.

"Customers who make payments to cryptocurrency exchanges are currently facing a significantly higher risk of potentially being scammed," stated James Roberts, General Manager of CBA's Group Fraud Management Services, in a statement accompanying the announcement.

This news comes as global regulators continue to scrutinize crypto exchanges. Recently, US regulators sued the world's largest cryptocurrency exchange Binance over allegations of inflated trading volumes and misappropriation of customer funds.

Baha Breaking News (BBN) / ND