A warning: relevant to crypto holders.

So I'm an Australian, i hold accounts with several banks but my investment accounts were all with Commonwealth bank of Australia, i deliberately only used them for share trading account and crypto investment money in and out, all other transactions, day to day etc were with entirely seperate entities.

Anyway, due to the nature of crypto, during bull markets i would withdraw substantial amounts from Binance to CBA and back to Binance during bear markets. Now they took notice of the sort of sums going through and a couple of years ago i got a text message along the lines of "if you do not contact us within 7 days your accounts will be suspended" ok, first time, maybe some explanation is in order.

As time went on however it became more regular, when i finally lost my cool about 8 months ago they had pulled this suspension trick 3 times in 4 months, i told them look, i know you must get hundreds of thousands of transactions to, or from, Binance, you must undoubtably have their accounts greenlisted, you also know the accounts to and from the Australian Taxation Office so you know I'm paying my taxes, so whats your game? Because i will not call you and meekly explain where my money came from and what I'm doing with it ever again (i should note they also pulled this with my wife's personal accounts, closing one at one point as well)

Well today i got a text message saying they will close my accounts in 30 days, (this next part i will paraphrase) to sell my shares, withdraw my money and gtfo.

I called them, asked why and got a "i will not disclose that information" Now how is this relevant to crypto? Because apart from Binance the only other places money went or came from was CBA's own stock trading platform or the ATO (taxation) so they have basically shut me down for crypto trading.

As i said this account is well isolated from any other transactions, there was no fraud, no weirdness, no other explanation, personally i was sick of them long ago so i liquidated all stocks and burnt any association with CBA already today, my wife was quite distraught however.

I do remember in 2017 banks were pulling these shennanigans during the goldrush into crypto but to think it continues to this day is infuriating, a cautionary tale my friends, thanks for reading.