CoinSpot freezes AUD deposits until 2018

If you're in Australia and you have a CoinSpot account, this affects you.

https://www.coinspot.com.au/my/deposit

As of today (21st December), CoinSpot has frozen deposits in Australian Dollars, claiming pressure from the banks that aren't cooperating with the cryptocurrency industry.

They also claim "business as usual", for those who already have deposits or crypto holdings sitting on CoinSpot. Though they forget to mention things like you can't deposit to any internal wallet, except for BTC. And you can't even withdraw certain things like EOS and IOTA (without good reason)!

Here's the official text:

""

Please note: We have temporarily disabled new AUD deposits. Withdrawals and buy/sell are not affected and will operate as normal.

The temporary restriction on AUD deposits will remain in effect until at least the first week of the new year. AUD Withdrawals, coin deposits, buy/sell orders and trading on the platform will continue to operate as normal.

We assure you we are just as unhappy with the situation as you, but unfortunately Australian banks have been so far unwilling to work with the digital currency industry which leads to frequent account closures and strict limits on accounts whilst they remain operational, in effect debanking our industry.

As the demand for Bitcoin and other crypto assets skyrockets it is in everyone’s best interest to ensure we have regulated, safe and stable digital currency service providers instead of pushing Australian consumers underground, to potentially unsafe vendors. It is our purpose to drive safe adoption of crypto assets and we assure you that we will continue to work on establishing a relationship with a banking partner so we can resume accepting AUD deposits as soon as possible.

Thank you to everyone for their overwhelming support during this time and we are really excited for what looks to be a massive year ahead for our industry.

""