Israeli Attorney General: Banks in the country cannot ban banking services to crypto-related customers

Israeli Attorney General Abihai Mandelblit said in Tel Aviv District Court that Israeli banks cannot completely prohibit the provision of banking services to crypto-related customers. According to Globes reported on Wednesday, Mandelblit said banks need to review each case individually before refusing to serve any password-related customers on the grounds of money laundering risk. If the court supports this argument, it could bring some stability to the country's crypto industry, which has so far struggled to obtain proper banking services. The report also pointed out that Mandelblit's position on this issue contradicted the Banking Supervision Guidelines issued by the Bank of Israel.