Now it’s Israeli Banks Resisting Bitcoins

Now it’s Israeli Banks Resisting Bitcoins
Now it’s Israeli Banks Resisting Bitcoins

Recently a bank sent a letter to its user after the user was found to be involved with trading and exchanging virtual currency through his account. The bank thought the trading poses a high risk for them and such activities should be right away banned until the country’s central bank issues an order to guide or clarify the whole matter.

The letter was posted by Mizrahi Tefahot, an Israel based bank, to one of its users upon involving the latter’s activities trading virtual currencies (of course Bitcoins) through his bank account. After this episode, Israel Army News first published a report mentioning Israeli banks to be unsupportive of Bitcoin transactions and trading, it became quite clear to international finance domains that Israel’ central bank is no mood to let its people support the virtual currency at any rate.

This is not the first bad news for bitcoins in the category of unacceptability. United States in the past have also resisted Bitcoins from entering its market due to its non-regulation and untraceable features. The government authorities also know that they cannot actually get rid of a decentralizescurrency like Bitcoins, but they can probably put enough stone in its way to slow it down – denying people to trade it through exchanges is one among them. The fear and doubt imposed by these authorities can certainly create uncertainty among people in investing in Bitcoins in the future.

On the other hand, Bitcoin is not left alone in this bullish finance war. China has recently lent its hand to support and promote the currency through advertising through channels and has urged people to use it in the future. Canada has also made it clear that they do not have any problems in its people trading bitcoins.

Israelites may still find themselves incapable of trading and exchanging bitcoins. But as soon as the acceptance of this digital currency reaches continent to continent, every country deterring it may find itself in a position of accepting it too.