PRESS RELEASE Fighting “Financial Apartheid”: Are Big Banks Applying Double Standards?

Recently, the Australian Bitcoin Industry Body (ABIB) has raised concerns regarding various financial institutions limiting their customers from investing and purchasing bitcoin. It seems as if double standards are being applied to the Bitcoin industry. Banks have cited the reasons are to protect its customers from scams and other fraudulent activities. ABIB agrees that any and all criminal activity needs to be stopped, however similar nefarious operators exist across many other sectors in Australia. Therefore, making these limitations on customers looking to invest in Bitcoin is arbitrary. Unfortunately, these blanket restrictions adversely affect many users. In addition, various Bitcoin businesses have been debanked. This is a real shame and undermines the fundamental right of people and businesses to engage in commerce and investment as they see fit.

ABIB has reached out to these institutions to engage and offer alternative solutions, but these efforts have fallen on deaf ears to date. Regardless, ABIB remains committed to standing up and calling out these irregularities when they see them.

The Australian Bitcoin Industry Body aims to work with various public and private organisations across Australia to act as a voice for the Australian Bitcoin industry. They seek to help with education and engage with policymakers to ensure Australia remains a prosperous country through appropriate sensible and fair legislation.

Why are more and more everyday Australians investing in Bitcoin?

In a world where financial autonomy is increasingly vital, Bitcoin emerges as a beacon of hope for Australians seeking greater control over their economic destinies. Rooted in the principles of true capitalism and Austrian economics, Bitcoin offers a path to financial freedom and empowerment.

At its core, the concept of financial freedom embodies the principles of self-reliance, individual responsibility, and free-market dynamics – ideals deeply entrenched in the fabric of Australian society. In a nation built on the values of entrepreneurship and innovation, embracing tools that enable economic sovereignty is more important than ever before.

Bitcoin, the world’s first decentralised digital currency, presents a solution to the challenges posed by traditional financial systems & inflation. With its borderless and censorship-resistant nature, Bitcoin transcends the limitations imposed by central authorities, offering Australians the opportunity to transact freely and securely, without fear of arbitrary restrictions or censorship.

True capitalism thrives on competition, innovation, and the absence of coercion – values that Bitcoin embodies through its truly decentralised network and open-access protocol. By providing a transparent and immutable ledger, Bitcoin fosters trust and accountability, driving economic activity while safeguarding individual liberties.

Unlike fiat currencies subject to inflationary pressures and government monetary mis-managment, Bitcoin operates on a deflationary model, with a fixed supply cap of 21 million coins. This scarcity ensures preservation of value over time, shielding Australians from the erosive effects of monetary debasement that is currently occurring and destined to increase across the globe.

Furthermore, Bitcoin serves as a powerful hedge against geopolitical uncertainties and financial instability. In an era marked by unprecedented monetary stimulus and ballooning debt, Bitcoin offers Australians a safe haven asset immune to the whims of policymakers and central banks.