Venezuela Pensions Are Converted To Petro Cryptocurrency

Digibank, India’s first digital bank started closing accounts that allegedly were involved in crypto-related activities after a claim made on Twitter reached our crypto news today.

The Twitter user ‘’IndianCryptoGirl’’ posted about this on January 14 but has also taken to the social media platform plenty details of the anti-crypto restrictions that were imposed on all of the account holders in India’s second largest bank Kotak Mahindra Bank.

Both banks imposed strict measures related to the prohibition on domestic banks dealing with crypto businesses which were first announced by the central bank of India last July.

According to the IndianCryptoGirl tweet, Digibank is a multinational financial services company which froze multiple accounts on its platform after it detected transactions from entities identified to be virtual currency traders or brokers. The Twitter user clarified:

 “I’ve been a user of DBS’ Digibank for a year. Although I regularly used Kotak Mahindra Bank for my cryptocurrency transactions, I used Digibank only 7 times throughout the year. On January 14th, I received multiple messages from my twitter [sic] followers regarding an account closure notice by Digibank. I checked my mailbox and found the mail myself.”

However, Digibank stated:

 “Reserve Bank of India through their public notices have warned/advised the public regarding risks associated with virtual currencies. We reiterated the same vide our emails dated 4th May 2018 and 2nd Aug 2019, cautioning our account holders [against] the risks associated […] and that DBS accounts and debit cards should not be used for their purchase or any kind of dealings.”

Many other users responded to the allegations that not only Digibank but many other banks are doing the same as well.