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Commonwealth Bank’s plans to expand crypto services to 6.5M delayed by red tape -Breaking

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Red tape delays Commonwealth Bank’s plan to grow crypto services to at least 6.5 million customers

Financial regulators are standing in the way of expanded crypto services on Commonwealth Bank of Australia’s (CBA) mobile app. The bank is the first to offer cryptocurrency services to all its users, which will be an Australian landmark.

The CBA’s crypto products started a pilot of the services late last year after which it hoped to open up to all of the users of its app, however it now appears to be moving toward a second pilot. The Australia Financial Review reportedThe launch was halted by the Australian Securities and Investment Commission on April 6.