Australian Banks Required to Provide Reports on Crypto Transactions
Australia is one of the countries at the forefront of digital currency adoption, with local investors reportedly preferring to buy Bitcoin more often than gold.
This has caused concern for the Australian authorities, who have requested that banks provide data on cryptocurrency transactions.
The Prudential Regulatory Authority (APRA) intends to increase its control over blockchain startups, companies and banks using cryptocurrencies, asking all banks to provide information on crypto transactions on a regular basis.
The APRA press service has neither confirmed nor denied these reports. This news has caused anxiety within the Australian crypto community, who fear that businesses may move abroad and banks will discontinue their interactions with bitcoin exchanges and services.
