Crypto traders and P2P users in Pakistan are increasingly facing challenges due to the freezing of bank accounts and restrictions when using Binance P2P for transactions. These issues are causing financial instability, loss of funds, and growing anxiety among traders who depend on crypto for investment and business purposes.
Many P2P sellers in Pakistan have reported their bank accounts being suspended or frozen shortly after receiving payments from buyers, significantly disrupting their trading activities and causing undue stress for those who rely on Binance as their primary platform.
Despite the absence of clear legislation banning crypto trading, Pakistani banks continue to treat crypto-related transactions as suspicious. The lack of a formal partnership between Binance and local banks leaves traders exposed to abrupt account closures and financial uncertainty.
Without official banking support or a regulatory framework in place, crypto investors in Pakistan are reluctant to continue trading due to the risk of losing access to their funds. This uncertainty is pushing many to explore unsafe or underground alternatives, exposing them to increased fraud and scams.
To protect its users and ensure smoother trading operations in Pakistan, Binance should collaborate with major banks to establish clear policies for crypto transactions, preventing unjust account freezes. Furthermore, Binance could introduce a verified and secure P2P merchant program to minimize fraud risks and avoid suspicious activities that lead to account suspensions. By taking these actions, Binance can foster trust with its Pakistani users and create a more stable environment for crypto trading in the country.