Banks Investigated for Closure of Bitcoin Company Accounts
The Australian Competition and Consumer Commission (ACCC) has confirmed it is investigating the actions of banks in the country, after they reportedly closed down the accounts of various bitcoin businesses. Speaking to the Australian Financial Review, ACCC chairman Rod Sims said the investigation was in its early stages: 'It is being investigated. We have already spoken to some banking representatives and sought some information. It is all still early stage, but under way.'
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Banks in Australia have mixed feelings about Bitcoin and its related services. On September 21, 2015, Banks in the region sent letters to Australian Bitcoin exchanges letting them know their accounts will cease with no explanation to why. According to the The Australian Financial Review, 17 native Bitcoin businesses have received letters, with 13 of them....
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