🇵🇰 Why are bank accounts being blocked after Binance P2P trading in Pakistan?
📌 In recent days, several Pakistani users have complained that their bank accounts have been frozen or blocked after engaging in Binance P2P trading. Learn about the underlying reasons and prevention methods👇
🚨 Why does this issue occur?
In P2P, money comes directly from other users' banks.
Receiving money from multiple unknown sources seems "suspicious" to banks.
High volume and frequent transactions come under the AML/Fraud radar.
In some cases, buyers or sellers file chargeback claims.
⚖ Legal Status
P2P is not illegal, but cryptocurrency is not yet regulated in Pakistan, so banks may cautiously block or freeze such accounts.
🔐 Prevention Methods
✅ Trade with verified users.
✅ Do not transfer large amounts all at once.
✅ Keep proof of every trade (screenshots, receipts).
✅ Use a separate business account instead of a personal account.
✅ Inform your bank in advance about your trading activity.
🛠 What if the account gets blocked?
Immediately contact the bank and provide proof.
Speak directly with the AML/CFT department.
Maintain a professional attitude and do regular follow-ups.
📢 Note: The issue may reduce with future cryptocurrency regulations in Pakistan, but caution is necessary for now.