After two years of legal battles, The Supreme Court ruled for a crypto exchange

[TimeTeller]

Nice, people often depict ALL governments as power-hungry tyrannies that want to ban everything, but this is an example that governments not always act like that. Bitcoin is not illegal by default, even if some criminals use it.

By the way, here's an article that explains the situation: https://www.coindesk.com/crypto-exchange-bits-of-gold-wins-supreme-court-battle-over-bank-block

The bank didn't want to provide their services to a crypto company, because they have labeled crypto as "gambling".

indeed some banks refer to crypto as gambling and very high risk. but in my opinion it's just a political game and it's true in some countries that crypto has been legalized. this situation has no effect on the price of bitcoin because the bull will still run

Political game because banks can see that crypto is addressing their shortcomings.
And if more and more people will come to know the benefits of utilizing crypto, sooner or later, their clients in some services will transfer to crypto services.
Remittance alone gives utmost benefits to consumers as the charging fees are very minimal when you deal with crypto.
We are not talking the speed yet. So yes, banks can see that they have competition in this market.

[blackhawkeye1912]

Israel is one of the countries that has the fire power, with that it doesn't want to be left behind with any technology being created and discovered like blockchain technology. This is surely one point towards mainstream adoption. As long as rich ountries around the world is not banning bitcoin and other cryptocurrency, blockchain technology is very much alive to flourish and function at full capability.

[suzanne5223]

In most places banking is entirely discretionary. Banks can choose who they do and don't do business with. Is it different in Israel?

Something can be perfectly legal and still be shunned by banks.

Hmm. You're definitely right for the institutions can be tricky sometimes but the last time i checked Israeli is a country full of people that usually fight for their right. What I'm trying to say is that if the banks there indeed play some shun trick behind screen the cryptoneir in Israel we protest.

[Ryan Dugan]

Nice, people often depict ALL governments as power-hungry tyrannies that want to ban everything, but this is an example that governments not always act like that. Bitcoin is not illegal by default, even if some criminals use it.

By the way, here's an article that explains the situation: https://www.coindesk.com/crypto-exchange-bits-of-gold-wins-supreme-court-battle-over-bank-block

The bank didn't want to provide their services to a crypto company, because they have labeled crypto as "gambling".

indeed some banks refer to crypto as gambling and very high risk. but in my opinion it's just a political game and it's true in some countries that crypto has been legalized. this situation has no effect on the price of bitcoin because the bull will still run

It is all about money and always will be. Banks like the stability of knowing if they loan more then they pay interest they are in the green as far as profits are concerned. it is tried and tested throughout time. Now that we do not need the bank to protect your funds they have found themselves in a difficult position that gets more and more difficult. They not sweating yet but it would be interesting to see just how much crypto has affected the banking system and the profits that go along with it.

[AjithBtc]

This is a step forward in the cryptocurrency adoption around the globe. From my understanding Israel has already added bitcoin to the list of taxable commodities similar to gold. To what extent this getting effectiveness in functioning is unknown. Now an account for a cryptocurrency exchange after a hard legal fight is truly a success when there is not much of support for Cryptocurrency on most places.

[Eugenar]

What a great news for the crypto community of Israel,and the  owner itself,Its a good start for the exchange that they have approval from the bank this exchange will surely get attention after this and will become a bigger exchange compared to what is it now.

Eventually we can perceive the community and acceptance of bitcoin and cryptocurrency will be huge following the positive news and updates concerning adoption of big entities or country. Basically, the banks are being threatening before, but right now, as cryptocurrency already proven its worth, banks have no way to outrun or disregard crypto, so they will going to make their way to associate their business to it as it is the only way to keep track of the growing technology of blockchain

[Mandoy]

Great News!

A huge victory for the crypto community.
After two years of legal battles, the Supreme Court ruled last night that Bits of Gold will continue to hold an account at Bank Leumi (One of the largest banks in Israel)

Source

This is a good news for Isralei cryptocurrency users. Bits of Gold a major Israeli cryptocurrency exchange has finally won the case and can continue to hold an account at the Bank Leumi. This is not a great news for Israeli but to all cryptocurrency community. This might just be simple but it has a huge impact on the cryptocurrency market. This kind of news gives inspiration to all cryptocurrency enthusiasts and I just hope that this will open the gateway for more Israeli to apreciate cryptocurrency.