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Australian banks freezing bitcoin transactions

Australian banks seem to have launched a sort of crackdown on bitcoin. They have started freezing those accounts found to be involved in the purchase of bitcoin as also bitcoin transactions. The banks involved are the National Australia Bank, ANZ, Commonwealth Bank of Australia and Westpac Banking Corporation. However, it is not clear whether such action has the sanction of the government and reports suggested that only certain users are targeted. A spokesperson for Commonwealth Bank of Australia said its customers can interact with these currencies as long as they comply with the bank’s terms and conditions and all relevant legal obligations.

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