Banks in Israel Demand Clear Crypto Regulations

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It seems Israel isn’t a huge fan of cryptocurrency… Either that or its banks are terrified of it. Israel Gets Concerned When Crypto Enters the Mix Money laundering and white-collar crimes are a huge concern within the nation of Israel, which seems to be making banks lock up whenever they hear the term “crypto.” Since Friday, several cryptocurrency traders have reportedly been unable to deposit funds into their digital wallets. Right now, many believe that Israeli banks have concerns regarding “know-your-customer” (KYC) practices and don’t want anything to do with the cryptocurrency business. For the most part, however, it doesn’t appear that banks are necessarily anti-crypto or fearful of it. Rather, they are waiting for new rules on how to handle cryptocurrency transactions that have been scheduled to arrive for some time and have yet to show their faces. Last May, the nation declared bitcoin and similar cryptocurrencies as “assets”…

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