Australian banks are closing the accounts of crypto users.

Analyst Comment: Crypto bulls have long believed there was little government could do to disrupt the use of crypto. They are learning the hard way, that’s not true. Governments around the world are cracking down on crypto because it threatens monetary control structures. The US is using a combination of co-option, regulation and taxation to control crypto markets. Expect more aggressive US regulation and enforcement actions over the next few years.