The banks got together and decided to impose these rules after a nonsense report last year about scams in Aus. I read the report and linked it here at some point, they basically lied and used it as justification when the reality is “crypto scams” are tiny - they just relied on no-one bothering to check up on them and people not having enough resources to take them to court (Aus Big 4 Banks are all in the Top 10 largest companies in the country). That’s how the system works - do shit and hide behind an army of lawyers such that if anyone is harmed it’s gonna take years and millions of dollars to get through the courts to overturn it because there’s zero punishment for them even if they do lose. View quoted note →