Israeli Bitcoin Mining Company Takes Bank to Court Over Account Closure

According to foreign media reports, Israel’s local mining company Israminers has appealed to the United Bank of Israel to the court, accusing the bank of refusing to open an account for it.

Israminers alleges that three months into its operation, the United Bank of Israel unilaterally decided to reject the company’s funds for bitcoin transactions and to transfer the funds already received back to the company, with the aim of preventing the company from further purchasing mining hardware and closing its account within 30 days.

The founder of Israminers has taken the case to court, asking the bank to cancel the decision. In addition, the company has also filed a complaint against Union Bank with the Israeli banking regulator. Currently, the Hel Ziya court accepted the case and issued a temporary order to the bank.

It is reported that the entire Israeli banking system does not support Bitcoin-related businesses, which has forced companies to seek help from the court. Previously, Bitflash LTD, an Israeli cryptocurrency exchange, also filed a lawsuit with the court, requiring 11 banks across the country to open accounts for it.