Israeli banks have decided to make life difficult for cryptocurrency investors. This is due to the fact that banks refuse to accept deposits that were earned through cryptocurrency trading.
Such a policy of banks argued the fight against money laundering and terrorist financing. Israeli investors are indignant because they do not have opportunities to contribute to their Bank account the profit which has been invested in Bitcoin. The government of Israel believes that bitcoin is the currency. In Israel, the BTC trade tax, the company tax is 47% of the profits, and for individuals - 25%.
The tax authority of Israel, apparently not quite cooperating with the banks, therefore, requires immediate repayment of taxes from cryptocurrency investors. As if they did not, investors can not find the way of income, which were obtained as a result of the investment in BTC.
The tax authority of Israel knows that the amount of unpaid taxes on profits from cryptocurrency income is more than 85,7 million dollars (300 million shekels). Cryptocurrency exchange Bits of Gold began to sue the international Israeli Bank and obtained the victory, opening access to banking services. This is not the only court of the crypto industry with Israeli banks. In the spring of 2019 court for the Central district of Israel ruled in favor of the tax authority of the country, recognizing BTC as a financial asset, not currency.
While the tax authority insists on their incompetence, cryptocurrency investors have suffered defeat, losing movable and immovable property.