- Firms commented after yesterday’s incident
- And say Australia’s crypto flight is normal
The news that Binance Australia has suspended local currency deposits via PayID was hotly debated online yesterday.
The reason was the provider Westpac, which refused to cooperate with the crypto-exchange. This begs the question of whether this situation will repeat itself with other local blockchain firms.
The Cointelegraph interviewed local businesses. Most of them do not see the risks.
So, the head of the Independent Reserve Adrian Przhelezny believes that this is a “specific problem for Binance,” rather than an industry-wide situation.
The businessman alludes to a series of unpleasant events that the global cryptocurrency exchange has been getting into recently.
Director of BTC Markets Caroline Bowler also commented on the situation on her Twitter.
She reported that the company is in close contact with its provider, “especially with respect to fraud.”. So customers need not worry about potential problems.
Kraken Australia Regional Director Jonathon Miller admitted there are only a few cryptocurrency-friendly payment providers in the local market.
But the crypto exchange has a “really strong relationship” with them. He added that the sudden move by the provider hurts customers first and foremost.
So it is “very unfortunate” to read the news about Binance’s problems. Even so, experts do not rule out that Australia may tighten the business conditions for the industry in the future.
In the future, experts do not rule out the possibility that Australia may tighten the business conditions for the industry.