A bitcoin business in Australia is eyeing banking opportunities abroad following a perceived crackdown from banks in the country.
The comments, made by Andrew Smith, the general manager of BuyaBitcoin follow on from reports that various Australian banks have decided to shut the accounts of some 17 bitcoin operating businesses.
Smith confirmed that BuyaBitcoin - founded in 2014 - had "experienced bank closures in Australia recently". He told CoinDesk:
"It's an Australia industry-wide issue. We are not in a position to comment on the specifics ... We are currently looking at opportunities outside of Australia (such as the UK) as the banking community is more open to innovation and exploring new technologies such as the bitcoin space."
According to the report by the
Australian Financial Review, approximately 17 bitcoin companies in the country received letters from two of Australia's biggest banks - Westpac Banking Corporation and Commonwealth Bank of Australia - notifying them that their bank accounts would be closed without further explanation.