Arab Today, arab today australia\s nab cuts ties with virtual currencies
Last Updated : GMT 11:42:17
Arab Today, arab today
Arab Today, arab today

Australia\'s NAB cuts ties with virtual currencies

Arab Today, arab today

Arab Today, arab today Australia\'s NAB cuts ties with virtual currencies

Sydney - AFP

One of Australia's biggest banks confirmed Thursday it was distancing itself from digital currencies after reviewing its risk profile. The National Australia Bank, one of the country's four main banks, has reportedly sent letters to business customers whose primary business is trading in Bitcoins and other crypto-currencies, saying their accounts will be closed on May 2. The letters state that an internal review concluded that ties with virtual currency providers posed an unacceptable level of risk to the bank's business and reputation, Australian Associated Press reported. A spokesman for the NAB said it was correct to say the bank was distancing itself from computer-generated currencies, which are unregulated. "National Australia Bank does not bank or trade in unregulated currencies, or have any plans to do so," the spokesman said in a statement to AFP. "NAB continually reviews its risk profile and the businesses we bank, ensuring NAB's activities are in the best interest of our customers and our shareholders." Unlike most currencies, Bitcoin is not backed by a government or central bank. The digital currency has suffered a series of blows since February when the Tokyo-based Bitcoin trading exchange MtGox filed for bankruptcy, after admitting it had lost about half a billion dollars of the virtual unit.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s nab cuts ties with virtual currencies Arab Today, arab today australia\s nab cuts ties with virtual currencies

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s nab cuts ties with virtual currencies Arab Today, arab today australia\s nab cuts ties with virtual currencies

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday