National Australia Bank to block some crypto exchanges

NAB, one of Australia's “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

• 2023-07-19
• National Australia Bank cryptocurrency exchanges Australia Commonwealth Bank Australia customer payments

Payments to 'High Risk' Crypto Exchanges Banned by National Australia Bank

National Australia Bank has seen a significant uptick in payment-related scams, which amount to over $270 million between March and July.

• 2023-07-18
• National Australia Bank Commonwealth Bank cryptocurrency Australia cryptocurrency exchanges Australian nationals

Australia regulator seeks risk reports from banks on startups, crypto -report

Australia's prudential regulator has started asking the country's banks to declare their exposure to startups and crypto-focused ventures following the collapse of Silicon Valley Bank, according to the Australian Financial Review (AFR). The Australian Prudential Regulation Authority (APRA) had told banks to provide daily updates on their crypto assets as it sought to gain more insight into vulnerabilities, the AFR reported late on Tuesday, citing three unidentified sources. The APRA declined t

• 2023-03-22
• Silicon Valley Bank Australian Prudential Regulation Authority Commonwealth Bank of Australia Australia National Australia Bank Westpac Banking Corp

Analysis-Australia's DIY pension funds lose millions on crypto bets, investors not sweating it

Thousands of Australians who used do-it-yourself (DIY) pension funds to bet on cryptocurrencies face hundreds of millions of dollars in losses, jeopardising their savings in a scheme originally set up to ensure adequate retirement income. These risky bets are possible as DIY or self-managed superannuation funds (SMSFs) fall outside the remit of the prudential regulator that oversees professionally managed funds, thereby allowing them to invest with fewer restrictions. Tens of thousands set up

• 2023-03-02
• pension funds Australia managed funds SMSF cryptocurrencies investments SMSFs