Coinbase voiced concerns regarding Australia's financial sector. The company stated that the practice of 'debanking' digital asset companies and fintechs is a "systemic feature" of the nation's financial landscape.
Securing stable banking partnerships remains challenging for cryptocurrency firms. These partnerships are critical for operations, including the buying, selling, and storage of digital assets.
This development underscores the regulatory and operational hurdles major cryptocurrency exchanges, such as Coinbase, navigate in international markets.