End Debanking: My Money, My Choice

We as the House of Representatives in Australia to:

1. Legislate clear protections that prevent financial institutions from applying blanket restrictions to lawful services and users.
2. Legislate the requirement for collection of and reporting on debanking and transaction freezing data.
3. Legislate the requirement for banks to provide case specific, transparent, written reasons before blocking any transfer, or restricting or closing any account.

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The Australian economy and social construct rely on trust in the financial system, which begins from the premise of individuals being able to access and spend their money how they choose. Across the country, banks are blocking transfers to regulated platforms, freezing accounts, and closing services for individuals and businesses engaging in lawful financial activity, often with no warning, no explanation, and no recourse.

Banks are effectively acting as de facto regulators, overriding government policy by restricting access to services the government itself has authorised. This blanket approach does not reflect individual risk, it punishes lawful activity and pushes consumers toward less regulated alternatives. This is not a niche issue. It affects more than 4 million Australians who use digital assets, as well as the businesses and innovators building Australia's digital economy.