What to do if the bank blocked the card because of crypto

Why did bankers dislike crypto? Why are banks trying to distance themselves from cryptocurrency-related operations?

Cryptocurrency was essentially developed as a decentralized means of payment independent of the traditional banking system. The whole essence of cryptocurrency is reflected in the idea of Bitcoin. The task of the state is to control the life of society. Including, we are talking about control over the money supply. Therefore, the presence of cryptocurrency among the population, which is not controlled by the authorities in any way, and which can be used in settlements, looks like a problem in the eyes of regulators. Therefore, the movement of the authorities of countries along the path of prohibition looks logical at first glance. At the moment when the authorities realized that it is impossible to completely ban crypto, they began to take measures to regulate the digital asset market. To do this, regulators need to reduce the entire turnover of cryptocurrency to centralized exchanges with mandatory KYC and AML. If we consider the process by analogy with the banking system, then it looks absolutely natural and there is nothing wrong with it.

Let's say my bank account was blocked due to crypto transactions. What should I do to get money out of the bank and resolve the conflict?

If you need to get money out of the bank, there is a very simple way - closing the account. According to the Civil Code, the bank does not have the right to withhold your funds without a court decision.

Banks can't just keep your money, although they like to take advantage of it. In such cases, you have to involve lawyers.

If we are talking about unblocking remote banking services (RBS) and a card, you will have to negotiate with the bank. You will probably be given conditions according to which you should no longer conduct transactions related to cryptocurrency. However, banks rarely take such a step, and there is no particular point in using the services of a credit institution without RBS.

How do you see P2P in crypto in, say, 5 years?

P2P is becoming more complex and expensive. I think the trend will continue. The P2P market will not disappear completely, but its participants will have to move from the gray zone to the black one. Rates and risks will increase. Everyone will slowly go underground. P2P will not die completely, but it will definitely shrink.

Let us recall that earlier the editorial staff of Plutonex examined what “dirty crypto” is and how to bypass it

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