Apr 16
Crypto broker Stormrake thunders at Aussie banks
EXCLUSIVE: Australian banks blocked or delayed $8 million in legitimate crypto payments to Melbourne-based broker Stormrake in the first two months of 2026.
➤ Australian banks are blocking or delaying millions in legitimate crypto payments, impacting brokers like Stormrake and potentially stifling industry growth. ➤ Banks cite increased scam and fraud risks, referencing reports of significant losses linked to crypto activity, while regulators like AUSTRAC warn against industry-wide bans. ➤ Crypto businesses, despite increasing regulatory compliance, face challenges accessing banking services, leading to concerns about Australia falling behind international markets.