Israel’s Supreme court upheld the bitcoin company in a case against the country’s second largest Bank
Bits of Gold company, which began its activities in 2013, in the fall of 2017 received a notification from the Israeli Bank Leumi that its account will be blocked.
Then the Bank on its own initiative began checking its customers in order to identify their possible links with cryptocurrencies.
Immediately after that, Bits of Gold filed in the district court and won it, but the Bank appealed and now the case should be considered in the Supreme court of Israel. Despite the fact that the final decision has not yet been made, on February 26, the Supreme court issued a temporary ban on the termination of service by Bits of Gold Bank. The interim injunction will remain in effect until a final decision is made.
In its judgment, the court noted that the concern expressed by the Bank is purely speculative and speculative, and the activities of Bits of Gold for several years can be described as completely transparent
A temporary ban does not necessarily mean that Bits of Gold will be able to remain a client of the Bank. However, the nature of the ruling itself is seen in the company as a small victory. Juval Ruach, Bits CEO at Gold, commented on the court’s decision:
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 ensure that cryptocurrencies take their rightful place in the financial system of our country!