Westpac to cap crypto exchange payments at A$10,000 per month from December

Westpac, one of Australia’s largest banks, announced it will impose a A$10,000 cumulative monthly limit on payments its customers can send to cryptocurrency exchanges, effective December 1. This restriction applies to Australian dollar payments identified by Westpac as being for crypto purchases and will be enforced across all applicable Westpac accounts for each customer within a calendar month. Westpac stated it may apply the cap across its Online Banking platform, the Westpac App, and credit or debit card transactions.

Also reported by The Defiant.

Source: CoinTurk News