Indian Court Bars Police from Freezing Entire Bank Accounts in Cryptocurrency Fraud Investigations
India's Madras High Court has ruled that the police cannot freeze entire bank accounts in fraud investigations, but only the amount of money in the bank account that is related to the fraud. The ruling comes after a case in which accounts were frozen in connection with a cryptocurrency investigation. Justice G. Jayachandran emphasized that freezing an entire account would deprive an individual of their livelihood and financial stability. He noted that account holders are often unaware of why their accounts have been frozen, and by the time they find out, they have already suffered significant losses in their day-to-day finances and business transactions.
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