Big Australian banks stun bitcoin companies by closing their accounts
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Tried to make a deposit today to increase my holdings and was greeted with this... =(
I hope one day we don't need to deal in FIAT at all and banks become the fax machines.
Big Australian banks stun bitcoin companies by closing their accounts
Australia's biggest banks are threatening to hobble the hopes of emerging local bitcoin companies, by suddenly withdrawing banking services from their potential future rivals.Banks have sent letters to founders of Australian bitcoin exchanges, including Bit Trade and Buyabitcoin, informing them their accounts will be closed, without further explanation.It is understood at least 17 Australian bitcoin companies have received similar letters, with 13 already having their accounts closed.The letters, seen by The Australian Financial Review, were from Westpac Banking Corporation and Commonwealth Bank of Australia, but Ron Tucker, chairman of industry body The Australian Digital Currency Commerce Association, said all large Australian banks were shutting the door on bitcoin companies.