Quote from: tygeade on Today at 07:42:21 PM

Quote from: Rruchi man on November 19, 2021, 01:24:19 AM

A recent situation in my country where the banks have been instructed to block accounts related/associated with crypto trading has prompted me to start thinking if these banks are actually happy carrying out government policies against their customers, because some of them seem not too happy about it but look to have little or no choice on the matter.

Can the banks challenge the policies from the government? Are the banks working for the people or the government? is there any possibility that banks can operate freely entirely from government policies?

The banks might not be happy about this situation. Imagine where they have to close the account of one of their biggest customers just because he or she was involved in trading cryptocurrency? So, in a way this situation is going to be affecting the banks, and they might not be happy about it.

But, they have no other option than to carry out the orders that are given to them by the government, because the governments are the ones who controls them. The only thing that people have to do is that they will have to be very careful while making use of cryptocurrency in your country, that way they wouldn’t have to have any problem with the bank at all or the government. There are several ways that they can make use of Bitcoin or any other cryptocurrency and not being caught while doing it.

The government does have full control over bank activities and policies. After all, banks are obliged to comply with all regulations imposed
by the government. Although sometimes government policies are not favored by the bank, but banks cannot operate freely, there are always
rules made by the government to regulate banks. The government does this to protect the population, because if the bank is not controlled
by the government, it is possible for banks to impose high interest rates when providing loans to customers. Banks were created to enrich
their owners. So the government really needs to regulate banks. After all, with the government controlling the banks, the government is also
able to monitor the financial transactions of its residents. If there is a bank that violates the rules imposed by the government, the bank can be
closed its business license and the bank owner will certainly lose. So in any country all banks must follow government rules.