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Murtuza Merchant

THE TRUTH ABOUT: National australia bank restricts payments to high risk crypto exchanges - The Untold Story

National Australia Bank NAB Australia Crypto Cryptocurrency

Representation of cryptocurrency and representation of Ethereum cryptocurrency are seen in this illustration photo taken in Krakow, Poland on June 26, 2023. NAB claims crypto scams are a rapidly escalating security concern and cost Australians A$221 million ($151 million) in the previous year alone. PHOTO BY JAKUB PORZYCKI/GETTY IMAGES

National Australia Bank Ltd. (OTC: NABZY) has imposed restrictions on certain payments to crypto exchanges deemed as “high-risk,” citing concerns over scams.

This move aligns the bank with other major Australian firms that have also limited access to digital asset platforms due to similar apprehensions.

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