Cryptocurrency, News

Israeli Bank has Refused to Accept the Crypto Earnings of 69-Year Old Woman

Esther Freeman is a retired Israeli woman who is also a Bitcoin trader. Speaking to the media recently, she claimed that in 2013 she decided to invest her savings into Bitcoin cryptocurrency trading. She claimed that she made this decision by discussing it with her younger relatives, who claimed that Bitcoin is going to become big in the future.

Therefore, Freeman took to her bank and used 10K ISL to invest in Bitcoin. She told the media that she has managed to increase her investment by 100 times since that time. However, her bank, called Hapoalim, has refused to accept the money transfer from her digital wallet address. The bank officials claim that when she took out the money, it was in the form of cash.

Esther Freeman has recently told the media that she has hired a lawyer to sue her bank. Her lawyer, Shaul Zioni, has claimed that the bank has not provided any valid legal excuse for refusing to serve the request of their client. On the other hand, Freeman has told the media that she has been a loyal customer of the bank in question for many years, and they are aware that she does not conduct any business outside of the organization.

Furthermore, she has told the media that she decided to store her crypto profits in different digital wallet addresses over time. On the other hand, the representatives from the Hapoalim bank claim that the money could be funded by terrorist organizations or used for money laundering. The bank claims that due to the decentralized nature of cryptocurrencies, there is no way of verifying the real source of the money.

Israeli Banks are Planning to Impose more Restrictions on Crypto Trading in the Future

At present, a massive number of cryptocurrency-related scams have been reported to be originated from Israel. Furthermore, there are a considerable number of nations that have not accepted the existence of the country on account of the war crime allegations. There is no way of ascertaining the political stability of the country that makes it a risky investment.

Meanwhile, the banking sector of Israel has decided to implement anti-terrorist screening for the cryptocurrency trading space. If this policy is going to become official, the cryptocurrency organizations will have to report to the centralized financial watchdogs and regulators like the banking system.

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