ISRAEL FORCES BANKS TO ACCEPT CUSTOMERS EXCHANGING DIGITAL CURRENCIES

Last June, the Bank of Israel announced that it had a pilot project on a digital currency, which obviously would not eliminate Banks:

“No central bank would design a digital currency to eliminate Banks, which remain an integral part of any payment system”

the declaration of the President of the Bank of Israel Andrew Abir that dispelled any doubt.

In October accelerated the project on the basis of the growing use of digital payments, verified with the pandemic, up 4.5% to 15 billion dollars in 2021 and with the choice of the Ethereum blockchain to make a possible shekel, the official currency of Israel.

But Israel continues to play catch-up on everything – we’re 4 months into the fourth dose of vaccine for those over 60 – and it’s also doing so in the crypto and blockchain space.

At the end of 2021, there was a major statement from the country’s central bank, which required private banks to operate with customers who have profits from digital currency transactions flowing into their accounts.

So if they could refuse before, they can no longer do so.

Green light for anyone who trades cryptocurrencies considered by banks as a customer assimilable to others, who will be able to deposit their gains in banks without fear and without the risk of finding themselves with blocked accounts or unable to withdraw money.

A further step towards adoption and more widespread acceptance.