According to a draft document released by Israel’s central bank, banks will not be able to directly refuse to serve companies in the cryptocurrency sector, instead they will be obliged to evaluate each company on its own.
According to the draft document published on the website of the Central Bank of Israel, the banking institutions in the country have access to the cryptocurrency market. transmitted or from this market coming out It is envisaged to conduct a risk assessment related to financial transactions.
between the banks a licensed cryptocurrency firm transactions in “by examining in its own way” will be obliged to provide services to crypto money companies in the absence of such an examination. they will not be able to directly reject.
Banks also use coins to buy cryptocurrencies. pertaining to the source reviewing cryptocurrency transactions “from the moment of purchase to the moment of conversion to fiat money and depositing into a bank account” expected to follow.
The central bank published this draft document on cryptocurrency standards. getting feedback. The final version of the document will be shaped in the light of the comments received.