Australian Bitcoin exchanges were raided by banks, and more than 10 platform accounts were closed

According to the Australian Financial Review, Australia's largest bank has sent letters to major Australian Bitcoin exchanges, informing them that it will close the bank accounts of the exchanges, including Bit Trade and Buyabitcoin, but the bank did not provide further explanation.

It is reported that at least 17 Australian bitcoin companies have received similar notices, and the accounts of 13 of them have been closed.

These notices came from西太平洋银行and澳大利亚联邦银行. Ron Tucker, chairman of the Australian Digital Currency Business Association, said that all major Australian banks no longer accept Bitcoin exchange accounts.

Mr. Tucker, who is also the founder of the bitcoin exchange Bit Trade, said the bank refused to explain why the account was closed and did not discuss with the company what measures needed to be taken to resolve the problem.

He said:

“Our members have not been able to obtain any official clarification on the reasons for the account closures. No policy or risk has been identified. The digital currency industry would be happy to engage with the banks on their concerns. However, the Banking Association and its members have not given us this opportunity.”

Last week, the Commonwealth Bank of Australia reportedly teamed up with some of the world’s largest banks to apply the technology behind digital currencies as a secure way to move money around the world and potentially replace the cumbersome international remittance system.

Labor senator Sam Dastyari said he was very concerned about the bank's actions and there appeared to be no clear reason for the sudden decision to close the accounts.

"I am concerned about the allegation that Australian banks are deliberately targeting small businesses..."

A Commonwealth Bank of Australia spokesperson said the bank was unable to comment on the circumstances of individual customers.

Money laundering concerns

Westpac also declined to discuss the issue, but referred an issue to its anti-money laundering and counter-terrorism financing practice, with a spokeswoman saying:

“Currently, the way Bitcoin operates requires very demanding compliance and assurance requirements to ensure we meet the high standards of anti-money laundering regulations, and we will continue to monitor the development of Bitcoin, including its regulatory status.”

Australian Bankers Association chief executive Tony Pearson said banks were obliged to close accounts if they could not see compliance with payments.

“Given the risks, it is necessary for digital currencies to have a clear legal regulatory framework,” Pearson explained.

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