2021: Refusal to credit her income from investments in Bitcoin to the pensioner's account
The largest bank in Israel, Apoalim, in November 2021 refused to credit the income of a 69-year-old pensioner, which she received from investments in Bitcoin.
Esther Freeman wanted to deposit $320 thousand into the account, which she received by investing $3 thousand in BTC about nine years ago on the advice of her sons.
The bank refused Freeman on the grounds that the money received from investments in cryptocurrency could be involved in money laundering or financing terrorism, and it is impossible to track the source of the pensioner's money, since there are no supporting documents.
The bank also noted that the woman did not buy money from crypto exchange, but from a private person. In addition, Apoalim said that at the time of the acquisition of Bitcoin, the Israeli authorities forbade crediting funds received from cryptocurrency operations.
In November 2021, a woman sued the bank, demanding that the income received be recognized as legal. Freeman was especially outraged that the bank refused to credit the money, although her account with Apoalim has been open for 40 years and there have never been any complaints about it. Since January 2021, cryptocurrency in Israel has been regulated in the same way as securities.
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