• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

Australian Bitcoin Trader Sues Banks for Systematic Discrimination

by
January 19, 2021
in Uncategorized
0
Australian Bitcoin Trader Sues Banks for Systematic Discrimination
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Australian Bitcoin Trader Sues Banks for Systematic Discrimination

An Australian bitcoin trader has filed a lawsuit against two of the country’s biggest commercial banks, accusing them of systematic discrimination when they closed his accounts on short notice.

Related articles

Bitcoin Price Jumps Over the $60K Zone, Crypto Economy’s Market Cap Climbs Above $2 Trillion

April 10, 2021
LTC Price Prediction

LTC Price Prediction

April 10, 2021

Allan Flynn is demanding compensation of AU$250,000 ($193,000) from ANZ and Westpac banks for closing his accounts immediately after they had been opened, the Australian Financial Review reported on Jan. 18.

Flynn, who operates a registered bitcoin (BTC) exchange, has started proceedings against both banks at the ACT Civil and Administrative Tribunal. The trader alleges he is the victim of unlawful discrimination, with no less than 20 banks closing his accounts in the past three years.

He lamented:

How am I supposed to run a lawful business if I can’t get a bank account? I am by no means alone or the first. I know of at least one other trader who has had accounts closed more than 60 times.

Flynn’s exchange is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), he says, and has helped facilitate BTC trades for about 450 customers.

Westpac reportedly told Flynn that his account was closed because he was “under investigation for cryptocurrency fraud.” ANZ said it does not offer banking services to crypto brokers, issuers or exchanges. Per the report, Flynn claimed an ANZ worker had informed other banks and his clients that he was involved in fraud.

Crypto exchange operators have had a tough time opening and maintaining accounts with traditional banking institutions. Earlier this month, Chile’s Free Competition Defense Court ruled that Banco Itaú and Banco Estado, two major banks in the country, must reopen the checking accounts of crypto exchange Buda.

The accounts were closed in 2018 after they were wrongly implicated in a scam run by Terra Finance.

What do you think about banks denying crypto exchanges banking services? Let us know in the comments section below.

Share76Tweet47

Related Posts

Bitcoin Price Jumps Over the $60K Zone, Crypto Economy’s Market Cap Climbs Above $2 Trillion

by
April 10, 2021
0

Cryptocurrency markets have gathered fresh gains this weekend, as bitcoin’s value spiked above the $60k handle touching $61,222 per unit...

LTC Price Prediction

LTC Price Prediction

by
April 10, 2021
0

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an...

All that mined is not green: Bitcoin’s carbon footprint hard to estimate

by
April 10, 2021
0

The impact of BTC mining on the environment has turned into a debate — here’s what academics think and if...

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

by
April 10, 2021
0

Isabel Schnabel, a board member with the European Central Bank (ECB), has attacked bitcoin claiming the crypto asset “does not...

P2P Trading Soars: Are we Witnessing a Backlash from Disgruntled “Centralized Platform” Investors?

by
April 10, 2021
0

The headlines in trading cryptocurrency belong these days to a range of decentralized platforms, including decentralized exchanges (DEXs) that still...

Load More
  • Trending
  • Comments
  • Latest
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021

Mark Cuban Invests in Mintable

March 6, 2021
Only 5% of Financial Executives Want to Invest in Bitcoin in 2021, According to Survey

Only 5% of Financial Executives Want to Invest in Bitcoin in 2021, According to Survey

February 17, 2021

Bitcoin Price Jumps Over the $60K Zone, Crypto Economy’s Market Cap Climbs Above $2 Trillion

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

Bitcoin Price Jumps Over the $60K Zone, Crypto Economy’s Market Cap Climbs Above $2 Trillion

April 10, 2021
LTC Price Prediction

LTC Price Prediction

April 10, 2021

All that mined is not green: Bitcoin’s carbon footprint hard to estimate

April 10, 2021

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

April 10, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • Alt Season
  • altcoin
  • Altcoin Market Cap
  • Altcoin News
  • altcoin prices
  • altcoins
  • Altseason
  • Barstool Sports
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin ETF
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • Cardano Upgrade
  • Cash app
  • CFTC
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Oracles
  • Chainlink Price Prediction
  • Changpeng Zhao
  • Charles Hoskinson
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Commodity Futures Trading Commission
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • Dave Portnoy
  • Decentraland (MANA)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Filecoin (FIL)
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LINK)
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Maker (MKR)
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • Moneygram
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Signal
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • Stimulus Bill
  • Stimulus Check
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Theta Network (THETA)
  • Theta Token
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • WhatsApp
  • World
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP Army
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Youtube
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.