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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Read news article here)
Banks operate on the basis of the Law on Banking and Banking Activities and numerous regulations of the country's central bank. Bank employees do not have the right to be arbitrary and must strictly follow the instructions and orders of the central bank. Only clearly illegal decisions can be challenged in the manner prescribed by law. Therefore, bank employees may have their own opinion on some issue, but they are obliged to comply with laws, legal orders of the central bank.