Australian Regulators Increasingly Target Cryptocurrency
A mortgage broker who wished to remain anonymous discussed financial institutions’ concerns pertaining to virtual currency speculation with AFR, asserting that lenders are increasingly monitoring debtors accounts for indications that they may be involved in cryptocurrency trading.
“They are concerned because the Australian Taxation Office, Treasury, the Reserve Bank of Australia and AUSTRAC are crawling all over it,” the broker said.
Additionally, AFR asserted that Australian “Lenders and prudential regulators are also concerned to prevent anything that might worsen the nation’s worrying household debt levels, which is already among the world’s highest.”
Other uses for mortgage funds typically prohibited by Australian financial institutions include the refinancing of payday loans, the payment of government fines or penalties, and payments to debt collection agencies.
Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.
Spam is discouraged by the community, and may result in action from the cheetah bot.
More information and tips on sharing content.
If you believe this comment is in error, please contact us in #disputes on Discord
!cheetah ban
ID Deception
Okay, I have banned @bitcoinnews.com.