Coinbase says Australian banks are blocking services to crypto firms

Coinbase has claimed that Australian commercial banks are persistently blocking financial services for cryptocurrency companies. According to Decrypt, Coinbase stated in a submission to the Australian House of Representatives Standing Committee on Economics that the country's "big four" banks are denying financial access by unilaterally closing crypto-related accounts or restricting transactions. The company argued that this practice, known as "de-banking," is becoming a structural problem within Australia's financial system. This seriously undermines the nation's economic competitiveness and the integrity of its financial system, Coinbase noted.