Buying Crypto with HSBC Australia? Not Anymore

Aayushi Jain

HSBC has informed customers it has begun blocking customer payments to cryptocurrency exchanges as of July 24 local time

This new development comes has made HSBC, the latest major bank to shun the industry, citing scams

To back up its decision, HSBC cited data from Australia’s competition and consumer regulator

This data has findings on how Australians lost up to $171 million from investment scams in 2023

Australia’s “Big Four” banks- Commonwealth Bank, National Australia Bank, Westpac and ANZ have restricted payments to crypto exchanges too

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