In Israel, Bitcoin holders require banks to disclose cryptocurrency policies

In Israel, bitcoin holders have sued local banks for refusing to open accounts for customers who want to deposit money from the sale of cryptocurrencies.

Bitcoin holders require the central bank of Israel and commercial banks to publicize their cryptocurrency policies. The Israeli Bitcoin Association has filed a petition for freedom of information with the Jerusalem District Court to disclose “the internal documents of each of the banks of Israel regarding the funds received from the sale of cryptocurrencies.”

“In accordance with the Banking Law, a bank is required to disclose to the Bank of Israel internal documents, in accordance with which it refuses to conduct operations. We contacted the Bank of Israel and requested this information, but the bank did not agree to disclose it to us. Therefore, we decided to go to court with a request to force the Bank of Israel to provide us with a copy of the relevant documents, ”said Jonathan Klinger, legal adviser to the Israeli Bitcoin Association.

He also emphasized that local banks refuse to open accounts not only for individuals, but also for companies such as the Israeli Bitcoin Association, despite the status of the company as a non-profit organization.

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Earlier it was reported that cryptocurrency investors residing in Israel had problems paying taxes for cryptocurrency transactions – local banks refused to open accounts for such users.