Bitcoin Investor Files Class Action Lawsuit Worth $22.5M Against Israeli Bank

As per an all-new report released by a media outlet called BlockTV yesterday, an investor (whose identity is not known at this time) has issued a lawsuit against Israeli bank Hapoalim (worth approximately $22.5 million). The reason for this legal action is that the bank apparently refused to allow the investor to deposit his BTC profits into his account. Additionally, according to the above linked report, the investor also plans on suing a number of other Israeli banks on the same grounds.

As things stand, most Israeli banks do not wish to be associated with any crypto related activities (primarily because they are afraid that they might be subject to regulatory scrutiny later down the line).

Lior Lahav — who is serving as the lawyer for the disgruntled investor — believes that just because a bank is scared of government scrutiny does not allow them to refuse service to a person who has dabbled in crypto trading.

According to Lahav, there currently exist a total of 70k investors across Israel who are facing similar problems with their banks. Not only that, he also believes that banking institutions are obliged under the law to accept money from their clients — especially if the person has undergone all of the required due diligence processes.