Cryptocurrency News Today: Bitcoin traders in Israel fight bank lockouts with petition, lawsuits


Israel‘s Bitcoin BTC fans have formally lodged a petition that demands the nation’s banks disclose internal policies for dealing with proceeds of Cryptocurrency trading, Globes reports.

The move follows a series of lawsuits filed against financial institutions that refuse to accept money generated by selling digital currency such as Bitcoin.

Israel‘s banks have even reportedly blocked Cryptocurrency traders from opening accounts altogether. The Israel Bitcoin Association told reporters that the Bank of Israel (the nation’s central bank) had even declined a previous request to publish its official policy for digital currency, referring to those details as “commercial secrets.”

“In recent months, we have instituted action to obtain the policy of each commercial bank on deposits originating in Cryptocurrency. We feel that there is a general policy of refusing to accept money, but the regulator is not helping us to obtain this policy,” Bitcoin Association legal adviser Adv. Jonathon Klinger told Globes.

Bitcoin traders are also lodging lawsuits

In addition to the freedom of information filing, the Israel Bitcoin Association is funding a “legal proceeding” to force local institution Union Bank of Israel to accept a customer deposit of money earned by selling Bitcoin.

The petition reporte

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