Israel’s Supreme court supported the bitcoin company in the case against the second largest Bank of the country

Israel’s Supreme court supported the bitcoin company in the case against the second largest Bank of the country

The company Bits of Gold, which started its activities in 2013, in the fall of 2017 received a notice from the Israeli Bank Leumi stating that her account will be blocked.

Then the Bank on its own initiative, began testing their clients to identify their possible connection with cryptocurrencies.

Immediately after this, Bits of Gold filed in U.S. district court and won it, but the Bank appealed and now the case has to be considered in the Supreme court of Israel. Despite the fact that the final decision is still pending, 26 February the Supreme court issued a temporary prohibition on termination of service by the Bank Bits of Gold. A temporary ban will be in effect until a final decision is made.

In its ruling, the court noted that the concerns expressed by the Bank is purely speculative and speculative, and the activity Bits of Gold for a few years can be described as fully transparent

A temporary ban does not necessarily mean that Bits of Gold can remain a customer of the Bank. However, the nature of the regulations in the company consider as a small victory. Yuval Ruach, CEO of Bits of Gold, commented on this judgment:

The court’s decision allows us to focus on the further development of the Israeli cryptocurrency sector. We will do everything in our power to cryptocurrency has taken a worthy place in the financial system of our country!

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