HSBC Australia Suspends Payments to Crypto Exchanges
Starting July 24, 2024, HSBC Australia will block all customer payments to cryptocurrency exchanges via credit or debit cards, citing the high-risk nature of these transactions.
The bank has identified frequent exploitation of cryptocurrency exchanges by scammers as a major concern, complicating the recovery of stolen funds. HSBC aims to protect its customers with this measure and plans to strengthen security against emerging threats.
However, clients will still be able to receive payments from cryptocurrency exchanges.
Clever Robot News Desk 28th July 2024
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