Australian Competition and Consumer Commission (ACCC) investigating banks’ closure of bitcoin companies’ accounts

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[1] The ACCC has started investigating the reasons why many accounts of bitcoin businesses are being closed down by Australian banks, amid concerns that banks are colluding to block emerging competitors.

[2] According to ACCC chairman Rod Sims, the investigation is in its early stage, starting with requests being sent to banks to explain their actions.

[3] The investigation follows the revelations that at least 17 emerging Australian bitcoin companies have had their accounts closed.

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[Source] Australian Information Technology News – Australian Competition and Consumer Commission (ACCC) investigating banks’ closure of bitcoin companies’ accounts