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Monday to Friday from 6: PM covers a broad spectrum of issues relevant to all sections of Australia's geographically and culturally diverse community. Mandie Sami reported this story on Tuesday, September 22, Dozens trading bitcoin mp3 Australian Bitcoin traders are claiming that Australia's banks are discriminating against their businesses by refusing to deal with them.
PM has trading bitcoin mp3 to several traders who say Australia's banks have declared war on Bitcoin because trading bitcoin mp3 views the virtual currency as a threat. Mandie Sami has the story. Trading bitcoin mp3 Juric has been trading Bitcoin for two and a half years. At the age of 22, she's enjoyed success with her growing business 'BitcoinBabe.
As she explains, Bitcoin is a trading bitcoin mp3 currency that gets traded on markets and trading bitcoin mp3 be used to buy and sell just like any other currency. You wanna buy Bitcoin, you'd come to somebody like, you'd go 'Hey I wanna buy some Bitcoin', I'd go 'Sweet, okay here's the Bitcoin, you give me the cash for it'.
It would then be sent to what we would call a Bitcoin wallet, which is you know, you can keep that on your computer, you can keep that on a your mobile phone, you'd then take it to somebody that accepts Bitcoin.
Ms Juric's business has come under threat because the country's biggest banks have refused to do business with her. I can't open or hold any accounts with those institutions, because I deal with Bitcoin. What are you basing that on? Trading bitcoin mp3 soon as they find trading bitcoin mp3 the nature of my business, they move to close the accounts.
Banks see Bitcoin as a threat and that's why they refuse to deal with us. Ms Juric isn't alone trading bitcoin mp3 her experience. She claims to trading bitcoin mp3 at least 50 other traders in Australia who've been through the same thing. Her claim has been backed by year-old Daniel Wilczynski, who's also a Bitcoin trader.
Or at least he was. He had his accounts closed with six different banks and is now out of business. So when we close the account, they close my personal account, they just close everything. So they've closed both your business and your personal account? I was thinking of even hiring somebody, I could have had an extra developer working with me right now and instead I'm out of a job and trading bitcoin mp3 of an income trying to figure out what to do.
The man we'll hear next doesn't want to be identified. He's been trading Bitcoin for two and a half years and says he's scared that if his identity is revealed the only bank that still holds his accounts will move to shut them down. A spokeswoman for NAB sent this reply. NAB does not bank or trade trading bitcoin mp3 unregulated currencies, trading bitcoin mp3 have any plans to do so. Westpac says it does not comment on individual customers.
A spokesman sent this response: The current Bitcoin operating model requires very tough compliance and assurance requirements to ensure we meet the high standards required under Anti-Money Trading bitcoin mp3 regulations. We continue to monitor developments in Bitcoin, including its regulation. ANZ have yet to respond. Michaela Juric dismisses the banks replies as rubbish. She says Bitcoin is regulated because among other reasons traders have to pay GST.
If someone purchases Bitcoin from me and something goes wrong, they have every right to lodge a complaint with Fair Trading. Now if we weren't regulated that couldn't happen. If we weren't regulated then we couldn't be asked to be paying tax on Bitcoin. So I think they're just saying waht they want so they don't have to deal with it. I think the whole thing's outrageous. In the same period where we talk about how we have to embrace new technology, you have a situation where the large trading bitcoin mp3 institutions gang up together to prevent the growth of new industries.
It's a very very worrying concern. But what worries me from an industry perspective trading bitcoin mp3 this is an area we should be promoting, this is an area we should be growing. And frankly we went through an entire detailed Senate process where there was bipartisan support that said this is an exciting new area, this should be promoted and it should actually be regulated. And yet you have this complete opposite outcome from the banking institutions who frankly see a lot of this as a threat.
PM Monday to Friday from 6: Home About Archives Contact Broadcasting live now! Search AM The full story Bitcoin traders accuse Australia's biggest banks of declaring war on cryptocurrencies Mandie Sami reported this story on Tuesday, September 22, Images Click an image to enlarge.
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