The Australian Treasury (Treasury_AU) has addressed the issue of de-banking of crypto firms, supporting recommendations that may affect change in the nation. By amitoj.
on Wednesday it recognises the seriousness of de-banking and that it understands inaction could drive business underground after instances of banking partners cutting-off crypto platforms in the nation., it has also supported the majority of previous advice from the Council of Financial Regulators on de-banking that could affect change for crypto-related entities.
Last year, the CFR gave the government four recommendations on potential policy responses to de-banking. The government also supported the recommendation that Australia's four major banks publish guidance applicable to the digital currency exchanges. Australia's four major banks are Commonwealth Bank, National Australia Bank, ANZ Bank and Westpac.
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