Israeli Bank Policy Should Not Have Shut Down Bitcoin Mining Firm’s Account, Court Rules

Cointelegraph

Published Mar 18, 2019 07:55AM ET

Updated Mar 18, 2019 08:07AM ET

Israeli Bank Policy Should Not Have Shut Down Bitcoin Mining Firm’s Account, Court Rules

An Israeli court has ruled in favor of a Bitcoin (BTC) mining company after a local bank closed its account over money laundering concerns. Israeli daily business news outlet Calcalist reported the development on March 17.

Israminers, which sued Bank Igud (the Union Bank of Israel Ltd.) in May 2018, had faced problems with cash flow due to the bank blocking deposits which it said was against its terms.

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