$455,000,000,000 Bank Abruptly Closes Account of BTC Holder and Client of 30 Years Without Explanation: Report - The Daily Hodl

The Daily Hodl
The Daily Hodl

16 Sep 2023 11:45 AM

The National Australia Bank (NAB) is reportedly closing the account of a long-time customer who is also a Bitcoin (BTC) holder without providing a reason....

  • The National Australia Bank (NAB) is closing the account of a long-time customer who is also a Bitcoin holder without providing a reason.
  • The customer, Shane Lucas, was notified that he has until October 14th to close his bank accounts or the bank will do it for him.
  • NAB announced a crackdown on using bank services for crypto exchange purchases in July, terminating transactions made to high-risk cryptocurrency exchanges.
  • Lucas asked an NAB branch manager if the account was being closed because he bought Bitcoin, and the manager allegedly confirmed it was the issue.
  • Lucas, who has been an NAB customer for three decades, argues that his Bitcoin purchases were not recent and his holdings are modest.
  • Daily Mail, the source of the report, is criticized for its unreliability as a news source.

The sentiment of the article is negative, as it highlights the NAB's decision to close the customer's account without providing a reason and the potential discrimination against Bitcoin holders.

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You May Ask

Why is the National Australia Bank closing the account of a long-time customer who holds Bitcoin?What was the reason given by the NAB for closing the customer's account?What actions did NAB announce in July regarding cryptocurrency transactions?How did the NAB branch manager respond when asked if the account closure was due to Bitcoin purchases?How does the customer, Shane Lucas, feel about the account closure and his Bitcoin holdings?

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