In the last few years, too much of surveillance is being done on the common people from almost all sides. The governments want total control over your life, they want to know everything about us and keep a check on our overall life and lifestyle. Every Country is coming up with it's own ways and means to make this surveillance more and more stringent with time. And that's probably one of the reasons why Crypto is not being encouraged because they fear losing away the power.
This situation has been going for a month with my husband. He has been trying to deposit USD into Binance exchange. He has been doing this all the while, without any hassle. But since a month he has been facing issues. The first time it got rejected and our local bank notified that the bank in which this transaction has to happen has been blacklisted by our local bank here in Muscat, so the funds got reversed. Thankfully there was no penalty. Else earlier with CEX we faced many issues depositing money there and each time it would get rejected, there would be a penalty of 50$ even though it was not our fault. So coming back to the Binance transactions. We reached out to Binance customer support and they informed us that they are changing their bank coordinates and will send us the new one shortly.
With all the back and forth communication, almost one month has passed. Now finally when we are able to do the transaction, the local bank again stopped the transaction and asked us for some more personal details, like what is the purpose of this transaction. We provided all the details to them. For next couple of days we did not hear anything from them, and then we again receive one email from them, asking us, what are our assets and we need to disclose it to them.
This is very strange, why should a Bank want to know what are my personal assets. It is none of their business, if we are doing it through a bank we are doing it the legal way and we are not doing anything illegal, they asked us the purpose of the transfer, which we disclosed. But getting a hold on what are our assets is completely wrong and unethical I believe, and there is no such law around it in the Country. Also in this Country Oman, there is no law prohibiting investments on Crypto, so then in such a case it is completely wrong on their part to ask us such details. Banks are just service providers, it is our own Money, but now it is like once you deposit money with them, it is their money and you need all the possible permissions to use your own money.
We decided finally not to do any more transactions from this particular bank and we did not even reply to their email. As it is I do not think, they would carry forward our transaction till we do not provide them the details. I think more of this will be coming to us as more and more people start earning through Cryptos, it is more about the control they want to have over us. They want to know everything about our investments, life. And for sure it is coming from the top and just not their individual decision.
In the next 10 years, I really cannot imagine what life is going to be like, because everyday we are getting into tougher situations with the higher ups in power. They are trying to pull the strings in every possible way. How much freedom will we have over our own life in the next 5 to 6 years is a big question.
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It happens, Banks try to investigate and want to peep through personal accounts, again there has been a trend developed by the Government all across the world, big crunch reliability to bureaucracy, with a motive to secure more control over peoples lives.
So disgraceful to common people.
It is disgracefully because we are the ones who created them, gave them power and now we succumb to their power. We allow them to control us, because we don't have options, but as the Cryptocurrency usability expands, these guys will get their senses back.
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STOPCheck out the last post from @hivebuzz:
I realized this a long time ago. It's almost like when doing a business, once money is being transferred to another hands, it changes ownership entirely.
The funny thing is that a man's worth shouldn't even be measured by what's in his bank account, because shits happen and boom, that account gets frozen.
Centralization has always been the governments key focus, this is where they get to feed on our funds.
It is what it is.
True, once the money is in the bank, for you it just a number on the screen, there is no guarantee it will ever be safe. But the expansion of Cryptocurrencies will teach these guys some lessons.
So impressive