Reading Time: 2 min Binance Australia, the local arm of the world’s largest cryptocurrency exchange, has suspended deposits of Australian dollars (AUD). The company said the move was necessary due to “unforeseen circumstances.”

Binance Australia did not provide any further details about the circumstances that led to the suspension. However, it is believed that Westpac, one of Australia’s largest banks, has blocked payments to Binance Australia.

Westpac has not confirmed or denied that it has blocked payments to Binance Australia. However, the bank has a history of blocking payments to cryptocurrency exchanges. In 2017, Westpac blocked payments to several cryptocurrency exchanges, including Bitfinex and Kraken.