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Debanking blocks $8M in Bitcoin payments, hindering crypto adoption in Australia

Market News
12 Oct 2026
Crypto Briefing
View Source
Bearish
Debanking blocks $8M in Bitcoin payments, hindering crypto adoption in Australia

Stormrake, a Melbourne-based Bitcoin brokerage, reported about $8 million in blocked or delayed payments in early 2026 due to major Australian banks restricting access to Bitcoin businesses. Banks like Commonwealth Bank, Macquarie, and Westpac cite fraud and AML concerns, but this debanking is seen as a major barrier to Bitcoin adoption in Australia. Despite AUSTRAC's guidance against sector-wide debanking, many firms still face account closures. Bitcoin companies are adapting by focusing on compliance, self-custody products, or exploring overseas options to continue operating.

Stormrake's report on debanking challenges in Australia provides context for cryptocurrency market conditions. For readers following cryptocurrency trends, here is Pluang's market snapshot as of Oct 13, 2026 00:41 WIB: out of 50 major cryptocurrencies, 10 rose and 39 fell. Notable movers include GRT at Rp469 with a -7.08% change and 78% sell activity, ONE at Rp34 with a -6.79% change and 83% sell activity, and THETA at Rp3.850 with a -6.46% change and 100% buy activity.

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