A Bank In Australia Uses Mortgage Funds for Crypto Speculation – Bitcoints

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Published on July 14th, 2018 | by bitcoin

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A Bank In Australia Uses Mortgage Funds for Crypto Speculation

A Bank In Australia Uses Mortgage Funds for Crypto SpeculationOne of Australia’s oldest financial institutions, Bank of Queensland, has prohibited the use of home equity loans for virtual currency speculation.
Also Read: Tether Announces Appointment of New Chief Compliance Officer
Bank of Queensland Cracks Down on Customers Using Mortgage Funds to Trade Crypto
Bank of Queensland has banned its customers from using loans that are leveraged against home equity for the purposes of cryptocurrency speculation due to concerns pertaining to the increasing regulatory oversight of cryptocurrency activities in Australia.
“They are concerned because the Australian Taxation Office, Treasury, the Reserve Bank of Australia and AUSTRAC are crawling all over it,” the broker said.
What is your reaction the Bank of Queensland’s move to ban the use of mortgaged funds for cryptocurrency speculation?
The post Australian Bank Bans Use of Mortgage Funds for Crypto Speculation appeared first on Bitcoin News.

Source: Digitalmoneytimes.com

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