Australian authorities requested banks to report on cryptotransactions

Australia is among the leading countries in the adoption of digital currencies. And local investors prefer to buy bitcoin rather than gold more often.
The Silicon Valley Bank crash has raised concerns for Australian authorities. They have asked banks to provide data on digital asset transactions. The Prudential Regulation Authority (APRA) plans to tighten controls on blockchain startups, companies and banks that use cryptocurrencies.
As the Australian Financial Review specifies, the agency wants to oblige all banks to provide it with information on cryptotransactions on a regular basis. According to sources, the government believes that only by monitoring the situation in the financial sector on a daily basis it is possible to minimize the risk of bankruptcy of banks and companies.

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