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?
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Each government has different jurisdiction and government protect against fraud which is the bank was under by the government and banks are regulated by the government, they should always obey the government's law and regulation either. There's no way to challenge the government, it is understood that you should obey once you are a citizen but if not, you can move into other countries that never care about people, which is very common to have crimes every day because there is no government that has protected people.
No way to challenge the government, they're supposed to comply with the regulatory laws by the government. Whether it is bitcoin or some other cryptocurrencies, people should have the freedom to use it.
Even if it is a foreign bank having its service in other country, it agrees to the law and all procedures followed within the country. With time governments will realise and create framework that make bitcoin get used through banks which is found in very small number around the world.
There’s nowhere to go for bitcoin but to be adopted soon in the banks as more people are now aware of bitcoin existence and how it will contribute much on individual’s economy. Banks will definitely agree on integrating fiat transaction with crypto in the long run because that’s what most of the people are looking forward to be realized.
However, banks are always associated with government’s laws and policies so even if they go against with the government, they will still not succeed as they are fully controlled by it. So it’s either they will be forced to close their establishment or continue their banking operation.