{"id":79955,"date":"2023-06-08T19:05:18","date_gmt":"2023-06-08T16:05:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79955"},"modified":"2025-09-11T13:59:41","modified_gmt":"2025-09-11T10:59:41","slug":"australias-largest-bank-imposes-limits-on-cryptocurrency-transfers","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/australias-largest-bank-imposes-limits-on-cryptocurrency-transfers\/","title":{"rendered":"Australia&#8217;s largest bank imposes limits on cryptocurrency transfers"},"content":{"rendered":"<p>Commonwealth Bank of Australia (CBA) has introduced measures limiting customers&#8217; ability to send funds to cryptocurrency exchanges. The press release <a href=\"https:\/\/www.commbank.com.au\/articles\/newsroom\/2023\/06\/changes-on-payments-to-crytocurrency-exchanges.html\">as stated<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCBA will reject or suspend for 24 hours certain payments to cryptocurrency exchanges. In the coming months, the bank will also introduce a monthly limit of $10,000,\u201d the lender said.<\/p>\n<\/blockquote>\n<p>The bank said the measures are in response to rising cases of digital-asset fraud and a desire to protect consumers. CBA intends to review the restrictions on an ongoing basis.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhile these measures will not eliminate the risk that customers may incur losses from fraud, \u2026 they are part of a range of initiatives designed to help customers reduce the risk of becoming victims of criminals,\u201d the bank said.<\/p>\n<\/blockquote>\n<p>Earlier, the CBA <a href=\"https:\/\/forklog.com\/en\/news\/australias-largest-bank-delays-crypto-trading-rollout-amid-regulator-uncertainty\">refused<\/a> to continue the second pilot program offering crypto trading services and closed access to the first due to regulatory uncertainty.<\/p>\n<p>In 2021, the bank\u2019s CEO Matt Comyn <a href=\"https:\/\/forklog.com\/en\/news\/largest-bank-in-australia-sees-risk-in-shunning-cryptocurrencies\">saw the risks<\/a> of staying out of the industry. Prior to that, the institution announced that it would be the first in Australia to <a href=\"https:\/\/forklog.io\/krupnejshij-bank-avstralii-otkroet-klientam-dostup-k-kriptovalyutam\/\" target=\"_blank\" rel=\"noreferrer noopener\">offer clients access<\/a> to digital assets.<\/p>\n<p>As noted, in 2022 residents of the country <a href=\"https:\/\/forklog.com\/en\/news\/australians-lost-148m-to-crypto-scammers-in-2022\">lost $148 million<\/a> in cryptocurrency-related scams, according to the local Competition and Consumer Commission.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commonwealth Bank of Australia (CBA) has introduced measures limiting customers&#8217; ability to send funds to cryptocurrency exchanges.<\/p>\n","protected":false},"author":1,"featured_media":79956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"CBA imposes limits on crypto transfers.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1229,36],"class_list":["post-79955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-banks-and-fintech","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"CBA imposes limits on crypto transfers.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79955"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79955\/revisions"}],"predecessor-version":[{"id":79957,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79955\/revisions\/79957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79956"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}