Bittax CEO: Bank of Israel does not want to be responsible for any money laundering cases before the explicit new encryption regulations are introduced

According to LiveBitcoinNews, several cryptocurrency traders have been unable to deposit funds into their digital wallets since last Friday. At present, many people believe that Israeli banks are worried about KYC's practices and do not want to have any relationship with the cryptocurrency business. Gidi Bar Zakay, former deputy director of the Israel Revenue Agency and current chief executive of Bittax, said that these banks are not really at fault, they just can't operate in the cryptocurrency field unless they are clearly directed by the regulator. If there is no clear rule, they do not want to be responsible for any money laundering cases that arise.