CRYPTO IS ILLEGAL OR LEGAL
2 years ago
Hey All , Hdfc Bank Had freezed My account For Trading In crypto Currency As They are saying It's illegal . i usually Deposit & withdraw money by Hdfc bank through Wazirx , zebpay ... .
Let me know my Rights & The situation . I am not getting Anywhere written that's it's illegal , only term i can see is it's Unregulated . How to deal With this ??
A.Hi,
Asper the laws in India, any transactions that involve Crypto Currency are unregulated. However, this in no means mentions that it is illegal. Thus, the bank account cannot freeze your account citing this as a reason. You may speak to the branch manager/Zonal head regarding the same and show him the relevant media which mentions that it is not illegal.
If you like my answer, then please rate it.
Asper the laws in India, any transactions that involve Crypto Currency are unregulated. However, this in no means mentions that it is illegal. Thus, the bank account cannot freeze your account citing this as a reason. You may speak to the branch manager/Zonal head regarding the same and show him the relevant media which mentions that it is not illegal.
If you like my answer, then please rate it.
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A.Send a legal notice to the bank asking them to unfreeze the account and if they don't do so then complaint to the banking ombudsman. You may file a case in consumer forum for deficiency of service on the part of the bank.
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