Israeli Supreme Court Forbids Bank From Denying Service to Bitcoin Exchange

The Supreme Court of Israel issued a short lived injunction order on Monday forbidding Bank Leumi from sweepingly halting the account exercise of the Bits of Gold bitcoin alternate. That is seen as a serious victory within the Israeli cryptocurrency trade that can set a precedent for different bitcoin companies struggling to get banking companies.

Additionally Learn: Israeli Bitcoin Firm Sues Banks for Not Letting it Open Accounts

Bits of Gold vs. Leumi

Since its inception in 2014, Bits of Gold has, which is licensed as a foreign money changer enterprise, at all times held an account with Bank Leumi – one of many high two largest banks within the nation. In 2015, the financial institution determined to shut its account regardless of the corporate’s meticulous conduct – solely as a result of the corporate offers in bitcoin, after which Bits of Gold determined to apply to the court docket for permission to proceed utilizing the account.

For a number of years Bits of Gold labored…

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