The Supreme Court of Israel has declared that Bits of Gold – the Israel-based blockchain and crypto exchange – can continue using its account at Leumi Bank, discarding the account access restraint from the bank regarding regulatory concerns.

Reported by Finance Magnates on June 3rd, although the Supreme Court’ ruled in favor of the crypto exchange, Leumi bank still reportedly maintains its decision towards Bits of Gold. However, this means that many companies, doing crypto-related businesses in Israeli soil, are allowed by the law to use any services offered by banks in the country.

Back in 2017, during another legal suit between the 2 above-mentioned parties, the Israeli Supreme Court has ruled against Bits of Gold, regarding Leumi’s actions to limit access from the crypto exchange to the account, regarding the fact that Bitcoin (BTC) trading activities did not comply with the Israel anti-money laundering (AML) laws.

However, in 2018, the Israel government has authorized Bit of Gold to presume using Leumi services. Judge Anat Baron has also given a court order to Leumi, forbidding the bank from denying Bit of Gold’s rights to access its Leumi account. The conflict between the 2 parties appeared after banks, which provide services to “websites that execute gambling transactions.”, was hit hard by the authority.

According to judge Baron, since there was not a single violation of the AML laws, during Bits of Gold’s half a decade operating crypto-related transactions, Leumi does not have any grounds to keep blocking the exchange’s account. However, this court order still lets Leumi carefully examine Bit of Gold, regarding its behavior or complying with the bank’s risk management policy.