Westpac Caps Monthly Crypto Payments at A$10,000 From December

Westpac's move is a notable example of a major bank treating crypto exposure as a distinct risk category, rather than folding it into existing payment controls. The absence of any exemption or higher-limit pathway is the sharper detail: it removes discretion from branch or relationship channels. The asymmetry — deposits into exchanges capped, withdrawals untouched — suggests the concern is capital leaving the banking system, not crypto proceeds entering it. Whether other institutions follow with similarly blanket limits is the open question.