June 27 (Cointime) - The Australian government and major banks are unlikely to back down on their restrictions against cryptocurrency due to the high rate of scams associated with it. Commonwealth Bank's managing director of blockchain and digital assets, Sophie Gilder, revealed that one in three dollars scammed from Australians involve cryptocurrency. The bank's restrictions on crypto exchange payments were put in place to reduce the impact of scams on customers. The Australian Treasury and banks share the view that cryptocurrency scams are unacceptably high and need to be reduced to maintain trust in the financial system.
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