Commonwealth Bank (CBA) will apply partial restrictions to payments to cryptocurrency exchanges as a means of protecting customers from scams.
The Australian bank announced on Thursday that it will decline “certain payments” to crypto exchanges or hold them for a period of 24 hours, a time period which it said could vary.
The bank also plans to introduce a limit of payments to crypto exchanges of 10,000 Australian dollars ($6,700) per calendar month in the months ahead.
Read More : Australia’s Commonwealth Bank to Impose Limited Payment Restrictions on Crypto Exchanges