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Reuters
Australian banks reject pressure to deal with cryptocurrency firms
Two of Australia’s largest lenders, National Australia Bank (NAB) and Westpac, on Thursday rejected criticism that they are stymieing competition by refusing to do business with cryptocurrency providers. Many of Australia’s top financial institutions have not engaged with the sector, despite its huge growth in the past year, due to its high risks. “It’s one of the emerging issues that we are looking at – what should our relationship be, if at all, with cryptocurrency,” NAB Chief Executive Ross McEwan told a regular parliamentary hearing.
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