Bitcoin flounders in Australia as regulatory worries bite

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it

SYDNEY:  Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.