Coinbase, one of the world’s largest digital currency exchanges, has accused Australian banks of refusing to provide services to legitimate companies working in the crypto industry, a practice known as debanking.
In a submission to a parliamentary inquiry, the Nasdaq-listed exchange said that the withdrawal of services to digital currency operations and financial technology operations had “evolved from a sporadic operational anomaly into a systemic feature of the Australian financial landscape”. This was “not merely an inconvenience; it is a threat to competition”, it added.
