Australia’s Banking Regulator Looks Into CBA’s Jump Into Crypto

Australia’s Banking Regulator Looks Into CBA’s Jump Into Crypto
A representation of the cryptocurrency Bitcoin is placed on a computer motherboard in this illustration taken on June 29, 2021. Dado Ruvic/Illustration/Reuters
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SYDNEY—Australia’s banking watchdog said it was examining the regulatory implications of Commonwealth Bank’s planned introduction of bitcoin trading to unsophisticated retail investors—the first bank in Australia to do so.

CBA says it would welcome a clear regulatory framework for crytpocurrencies, which are not formally regulated in Australia.