on certain payments to cryptocurrency exchanges, both citing an increasing threat of investment scams. Australia's other two major banks, the ANZ and NAB, have not yet indicated whether they would impose similar restrictions.
“From the government's point of view, [they] need to invest more in reducing scams, and that’s the government, but it's also banks, other people in the financial system have to work together to reduce scams to maintain trust in the system," said Trevor Power, the Australian Treasury assistant secretary.However, Gilder clarified that CBA’s measures weren’t made to attack the industry and doesn’t necessarily reflect any wrongdoing by centralized exchanges.
Gilder was also bullish about blockchain technology, noting that nearly every bank has established a digital assets team — a sign that “banks recognize” the need to understand the space, she said.
On June 8, CBA followed Westpac’s lead in imposing pauses, limits and outright blocks on certain payments to cryptocurrency exchanges, both citing an increasing threat of investment scams.