HSBC Australia To Block All Customer Payments to Crypto Exchanges

HSBC Australia has announced that it will block all customer payments to cryptocurrency exchanges via credit or debit cards, starting from July 24, 2024. The bank cites the high-risk nature of such transactions as the primary reason for this decision. HSBC Australia aims to protect its customers by implementing this payment blockade and plans to further enhance security measures to safeguard against evolving threats. The bank, however, said that clients can continue to receive payments from cryptocurrency exchanges.