In Bank vs Crypto exchange Fight Supreme Court Of Israel Favoures The Exchange


Supreme Court Of Israel announced that the crypto exchange Bits of Gold can continue to use their account in the Leumi Bank reported on 3 June 2019.

Due to regulatory issues in the country, the bank had blocked the account of the cryptocurrency exchange by which the exchange is not able to access their bank account anymore.

This happened the second time when Israeli authorities have ruled in favor of the crypto exchange.

This is an exciting moment for us as a company and for the [cryptocurrency] community in general

– Bits of Gold CEO, Yuval Roash

Previously in February of 2018, the judicial authority gave the clearance to the Bits of Gold company to continue their business by using banking services of Bank Leumi.

But the Bank Leumi ceased the account of Bits of Gold company because they classified the cryptocurrency firms as gambling companies, where banking services are banned for gambling-related businesses in Israel.

Three months ago, Six Banks of Saudi Arabia and UAE going to participate in the Digital Currency Project named “Aber”  for cross border payments.

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