Israeli banks shouldn't refuse service to bitcoin companies

by in Cryptocurrency News

Israel banks crypto

Israeli banks should not refuse services to cryptocurrency companies, said Avichai Mandelblit, legal adviser to the Israeli government. This was reported by Cointelegraph with reference to local media.

In his opinion, banks should carefully study each case to identify signs of the risk of money laundering or other illegal activities, and not stop providing financial services for all cryptocurrency companies.

Mandelblit voiced his position in court in a case regarding the refusal of one of the Israeli banks to allow transfers from the local cryptocurrency exchange BIT2C.

Related: Iran will pay for exposing illegal mining

Earlier, the Bitcoin Association of Israel also, through a court, demanded that the Bank of Israel disclose information on the policies of commercial banks that refuse to open accounts for users to deposit funds received as a result of cryptocurrency trading.

Due to the refusal of Israeli banks to accept funds received from operations with the first crypto, local crypto investors also have difficulty paying taxes.