Westpac to Ban Branch Payments to Crypto Exchanges Starting Dec. 1

Westpac will prohibit payments to cryptocurrency exchanges at its branches starting Dec. 1, while setting a monthly A$10,000 limit on payments to exchanges.

The ban on branch payments will have no exemptions. The monthly limit was previously outlined in coverage of Westpac’s planned A$10,000 cap. Withdrawals from cryptocurrency exchanges into Westpac accounts will remain unaffected.