Melbourne-based Bitcoin brokerage Stormrake reported that it faced $8 million in blocked or delayed payments during January and February 2026. The company attributes these disruptions to restrictive banking policies implemented by major Australian lenders.
According to Stormrake director Bisher Khudeira, debanking remains the primary obstacle to Bitcoin adoption in Australia. The issue affects the broader industry, with total blocked payments estimated to exceed $50 million during the same two-month period.
Affected transactions vary significantly in size, ranging from small amounts to individual payments exceeding $750,000. Major financial institutions, including Commonwealth Bank, Macquarie, and Westpac, have cited fraud risks and AML compliance as reasons for these restrictions.
On September 30, 2026, the Australian financial intelligence agency AUSTRAC issued guidance advising banks to perform individual risk assessments rather than engaging in sector-wide debanking. However, many firms report that these practices persist.
In response to the ongoing banking challenges, companies like Stormrake are shifting their focus toward compliant products and self-custody solutions. Other industry players are considering international expansion or increased compliance investments.
