Australian bank Westpac places cap on monthly crypto payments

What happened: Westpac, an Australian bank, has set a $10,000 monthly cap on crypto payments to exchanges, starting from December, according to Scott Melker on "The Daily Wolf." Key numbers: $10,000 monthly cap on crypto payments; effective from December. Why it matters: Melker criticized the limit as a bank restricting what customers can do with their own money and said crypto users should boycott the bank. He noted customers can still send funds back to the bank without limit.

Westpac, an Australian bank, has set a $10,000 monthly cap on crypto payments to exchanges, starting from December, according to Scott Melker on "The Daily Wolf."

Melker criticized the limit as a bank restricting what customers can do with their own money and said crypto users should boycott the bank. He noted customers can still send funds back to the bank without limit.