HSBC Australia blocks payments to crypto exchanges from 24/7. 🚫💸

HSBC Australia announced it will block payments from bank accounts and credit cards to crypto exchanges to protect customers from fraud.

- This decision is based on data showing Australians lost up to $171 million to investment fraud in 2023.

- Other major Australian banks such as Commonwealth Bank, NAB, Westpac and ANZ have made similar moves before.

- Amy-Rose Goodey from DECA said the decision raises concerns about the relationship between banks and the crypto industry.

- Goodey emphasized the need for dialogue and improved legal frameworks to support innovation and minimize risks.

What do you think about this move by HSBC? Share your opinion! 💬👇