While India does not yet have a legal framework for cryptocurrencies, the government has reassured its citizens that a crypto bill is already awaiting approval. Coin Crunch, an Indian crypto news outlet, reported on Monday that, “Many users are reporting Paytm is freezing bank accounts of Paytm payments bank account holders with suspicion of crypto trading”. Some customers also reported being asked to sign a declaration form confirming they, “do not deal in any type of virtual currency transactions” through their accounts at the bank.