my cousin sold his bitcoin to a guy in Thailand and that person made direct payment to my cousins bank account in Singapore from his Thailand bank but now the bank in Singapore is asking my cousin to produce his income source and has freeze that transaction money in his account. my concern is does the bank have that authority to stop my cousin from taking money out from his account and give such reason or excuses ?
is there any legal solution ? is it possible to sue the bank ?
That's the reason why I hate banks. Imagine We trust our money to them then they will hold our savings due to We need to submit our source of income, I tried actually to apply an open savings account here in my country then when I said that I'm a freelancer and crypto traders they declined me because they need a certification from the company or from the business if I am self-employed.