Post
Topic
Board Bitcoin Discussion
Re: Will courts forbid banks in denying service to Bitcoin?
by
avikz
on 27/02/2018, 10:11:11 UTC
Israeli supreme court issued temporary injunction order forbidding a bank from halting the account activity of bitcoin exchange firm. This has been seen as a major victory of cryptocurrency industry and may set example to other businesses struggling to get bank services.
So given that, will courts of other countries follow suit in forbidding banks to deny services to bitcoin exchanges?
Share your thoughts guys.

https://news.bitcoin.com/israeli-supreme-court-forbids-bank-denying-service-bitcoin-exchange/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Israeli court has ordered such temporary injunction because Israel government legalized crypto business in their soil and imposed taxes on it. So they are essentially eyeing the tax income that can be generated from crypto market. That is the reason why the crypto business is getting government and counrt support. I doubt it will be the same in any other countries where crypto business in not yet legalized. Probably Japan can do the same because crypto currency is legal in Japan. But this will not be the same case in any other Asian/European countries where bitcoin's legal status is still unclear.

But it is indeed a major victory for the crypto community as a whole, because of the nature of the case. While Banks have declared war against bitcoin and other crypto currencies because they think it is a major threat to their business. This kind of example can be used as an example to the world economic bodies. Even though we can't expect the same to happen in any other countries just as now, but it is a starting point indeed.