Australian Bitcoin Trader Sues Banks for Systematic Discrimination
An Australian bitcoin trader has filed a lawsuit against two of the country’s biggest commercial banks, accusing them of systematic discrimination when they closed his accounts on short notice.
Allan Flynn is demanding compensation of AU$250,000 ($193,000) from ANZ and Westpac banks for closing his accounts immediately after they had been opened, the Australian Financial Review reported on Jan. 18.
Flynn, who operates a registered bitcoin (BTC) exchange, has started proceedings against both banks at the ACT Civil and Administrative Tribunal. The trader alleges he is the victim of unlawful discrimination, with no less than 20 banks closing his accounts in the past three years.