Lately, more and more users in Pakistan are reporting that their bank accounts are getting frozen or blocked after trading crypto via P2P platforms like Binance. So why is this happening — and how can you avoid it? Here’s a quick and updated explanation 👇
🚨 How Does This Happen?
✅ You buy or sell crypto through Binance P2P.
✅ You send or receive money via direct bank transfer.
🚫 The bank sees these transactions as “suspicious”.
🔒 As a result, your account may get blocked under “fraud or irregular activity”.
🧾 Why Are Banks Doing This?
🇵🇰 Cryptocurrency is not officially regulated in Pakistan. While the State Bank of Pakistan (SBP) hasn’t banned crypto, they’ve instructed banks to monitor and report crypto-related transactions.
Since P2P trading uses direct transfers between individuals, banks often flag these accounts because of:
Multiple Sources: Money is coming in from various unknown accounts.
High Volume: There are large transaction amounts without a clear business reason.
Chargebacks: Sometimes buyers or sellers accuse each other of fraud and demand refunds.
All of this triggers anti-money laundering (AML) and fraud monitoring systems.
⚖️ Is P2P Trading Illegal in Pakistan?
⚠️ P2P trading is not illegal, but it falls in a “grey area”.
Due to SBP’s alerts and internal bank compliance policies:
Accounts can get frozen without notice.
Funds can be held for 30–90 days.
There’s no fixed timeline for investigations.
🔐 How to Protect Yourself?
Here are some practical and unique tips that can help you stay safe while trading:
✅ Trade with Verified Users: Only deal with verified users on Binance.
✅ Check KYC Beforehand: Make sure the person you're dealing with has full KYC completed.
✅ Prefer Small Transactions: Avoid large transfers, especially with strangers.
✅ Save Digital Proof: Keep screenshots, chats, and payment receipts for every trade.
✅ Use a Separate Business Account: If you trade in high volumes, don’t use your personal account — open a business account instead.
🔥 Unique Tip: If you’re a regular P2P trader, talk to your bank’s relationship manager in advance and inform them about your activity. This transparency might reduce the chance of account freezing in the future.
🗣️ What to Do If Your Account Gets Blocked?
If your bank account gets frozen, take these steps:
📩 Contact the bank immediately and try to resolve the issue.
📝 Collect and submit proof of every trade (screenshots, transaction IDs, KYC info, etc.) along with your own ID documents.
🔁 Keep following up regularly, and always stay professional.
🔥 Pro Tip: Try speaking directly with the bank’s AML/CFT department — they’re usually the ones handling these cases.
📢 Final Word
P2P trading gives you financial freedom, but in a country like Pakistan — where crypto laws are still unclear — it comes with serious risks. Always trade in small amounts, use verified users, and keep proper records.
Extra Insight: Crypto regulation in Pakistan is still under discussion. In the future, things might improve — but until then, it’s important to stay careful and informed.
Got questions or want to discuss your own case? Just let us know! 🚀
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