Banks moving into crypto 'a good thing'

Liberal Senator Andrew Bragg says he is pleased to see one of the big banks move into the cryptocurrency space.

Commonwealth Bank announced it will allow its customers to buy and sell cryptocurrency through its app.

“One in five Australians has cryptocurrency,” Mr Bragg told Sky News Australia.

“I just want the Australian economy to be a modern, dynamic economy. I don’t want it to be looking backwards.

“So if banks are moving into this space, I think that’s a good thing.”