19 Oct '15, 7am

Australian Commission Investigates Banks’ Closing Bitcoin Companies’ Accounts

Australian Commission Investigates Banks’ Closing Bitcoin Companies’ Accounts

84 SHARES Twitter Linkedin Facebook Pinterest Google Reddit The Australian Competition and Consumer Commission (ACCC) is investigating why some Australian banks are closing bitcoin business bank accounts , according to the Australian Financial Review . The Australian Financial Review previously reported that 17 bitcoin companies in Australia received letters from banks saying they planned to close their accounts. Nationals Senator Matthew Canavan asked the ACCC to investigate the matter. Rod Sims, chairman of ACCC, said banks have been asked to explain their actions. He said the commission is also asking the banks what contact they had with each other over these actions. Sims said he hoped to find out why the banks were taking these actions and he hopes to issue a report in a couple of months. Senator: Bitcoin Threatens Banks Canavan welcomed the ACCC investigation. He sai...

Full article: https://www.cryptocoinsnews.com/australian-commission-inv...

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