that it will no longer be able to facilitate Australian Dollar bank transfers using PayID, blaming Cuscal without naming it. Australia's blockchain industry had denounced recent restrictions by local banks on crypto payments and invited platforms like Cuscal and government stakeholders to a roundtable discussion on June 27 to discuss the issue.
"Our banking partner, Cuscal has updated its Merchant guidelines which contain new requirements for all digital currency exchanges that are supported by Cuscal," the"survey" reads."If you do not currently comply with the new requirements, we are happy to consider a reasonable time frame for implementation. Please note, if you are unable to comply with the requirements, Zepto and Cuscal will not be able to continue to support you.
Some of the requirements are a 24-hour hold on first-time inbound payments of any size, real-time verification of user identity and unspecified transaction limits on cryptocurrency exchange payments, according to the Blockchain Australia statement.