Coinbase Accuses Australian Banks of Systemic Crypto Debanking

• Debanking by major banks risks stifling competition and trust in Australia crypto economy.
• Payment rail dominance lets big banks block fintechs without clear rules or appeal paths.
• Licensing reforms need banking access safeguards to keep compliant digital firms operating.

Australia’s largest banks face fresh scrutiny after Coinbase accused them of systematically cutting off financial access for crypto and fintech companies. The exchange told lawmakers that debanking has shifted from an isolated issue into a structural problem. 

Consequently, Coinbase warned that competition, innovation, and public trust now face serious risks. The submission arrived amid a federal inquiry into digital payments, highlighting rising tension between traditional banks and digital asset firms. Moreover, Coinbase argued that restricted access undermines lawful businesses operating unde…

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