A court in Israel has once again ruled against a local bank which tried to close the account of a cryptocurrency related business without any due cause. This time a Tel Aviv court has determined that a bank can’t refuse to operate an account on behalf of a crypto miner.

Also Read: Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $4M Lawsuit

Court Rules on Israminers vs Union Bank

Union Bank of Israel, Ltd. (TASE: UNON), the sixth largest Israeli bank, will not be allowed to close the account of local cryptocurrency mining company Israminers Ltd. Tel Aviv District Court Judge Limor Bibi has ruled that the bank’s sweeping policy of prohibiting the opening of an account for any customer working with digital currencies is unreasonable. However, the bank could still refuse the company’s requests to deposit fiat money if it is coming from anonymous exchanges in order to remain in compliance with the banking system’s AML (anti-money laundering) and KYC (know your customer) legal requirements.

Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

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Source: https://news.bitcoin.com/tel-aviv-court-rules-bank-cant-close-crypto-miners-account/