Coinbase Accuses Australian Banks of Unlawful Crypto Ban
Coinbase has publicly accused Australian banks of imposing an unlawful ban on crypto by closing or restricting accounts linked to digital-asset activity without transparent explanation. The company warned that this lack of clarity around account closures has triggered “a crisis of confidence” in the broader financial system, raising concerns about access to fiat rails for crypto businesses and customers.
The dispute matters because opaque banking practices can disrupt on- and off-ramps that exchanges rely on, potentially displacing customers or increasing operational friction for compliant firms. Market participants and policymakers will likely watch for regulatory responses or calls for clearer rules, since prolonged uncertainty can undermine trust in both traditional banks and regulated crypto platforms.