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Bitcoin firms dumped by National Australia Bank as 'too risky'
The National Australia Bank is severing ties to digital currencies, saying they are too risky. NAB has sent letters to business customers who primarily trade in bitcoin and similar cryptocurrencies saying their accounts would be closed on 2 May. The letters say an internal review concluded that ties with digital currency providers pose an unacceptable level of risk to NAB's business and reputation. NAB has never banked or traded in digital currencies, but has provided banking services to companies that do. Confirming the move, a spokesman said: “NAB continually reviews its risk profile and the businesses we bank, ... (full story)
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