Australia’s largest bank, the Commonwealth Bank of Australia, has made it harder to transfer funds to cryptocurrency exchanges, citing the risk of fraud.
The bank plans to place a monthly limit of A$10,000 ($6,663) on payments to the digital asset trading platform. The lender also said in a statement Thursday that some transfers would be held for 24 hours or rejected.
Earlier in mid-May, the country’s Westpac Bank announced that it had banned customers from trading with Binance, and then Binance’s Australian subsidiary suspended deposits and withdrawals in Australian dollars.