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Long-term Lot C at LAX about to close, replaced by Lot E near Proud Bird

March 19, 2019 |

Say so long to Lot C, the cheap but often packed long-term parking facility at LAX. The large lot will close to new customers April 1. Those already parked there at the time will have till April 19 to remove their vehicles.

In its place, meet Lot E, a new long-term lot that opens March 28. As with…


L.A. Times – Business

Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

March 18, 2019 |

Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

A court in Israel has once again ruled against a local bank which tried to close the account of a cryptocurrency related business without any due cause. This time a Tel Aviv court has determined that a bank can’t refuse to operate an account on behalf of a crypto miner.

Also Read: Tel Aviv Court Gives Moshe Hogeg 30 Days to Settle $ 4M Lawsuit

Court Rules on Israminers vs Union Bank

Union Bank of Israel, Ltd. (TASE: UNON), the sixth largest Israeli bank, will not be allowed to close the account of local cryptocurrency mining company Israminers Ltd. Tel Aviv District Court Judge Limor Bibi has ruled that the bank’s sweeping policy of prohibiting the opening of an account for any customer working with digital currencies is unreasonable. However, the bank could still refuse the company’s requests to deposit fiat money if it is coming from anonymous exchanges in order to remain in compliance with the banking system’s AML (anti-money laundering) and KYC (know your customer) legal requirements.

Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

The judge ruled: “I believe that the sweeping policy, which does not distinguish between different types of activity, scope of activity and different types of customers – in the field of digital currencies – is unreasonable.” However, she added that “In these circumstances, I find the bank’s argument that, given that the ‘money trail’, as defined, in terms of sales in a trading arena to an unknown factor which knowledge of it haven’t been proven, creates risks of money laundering. As a result, I find the bank’s refusal to provide service with regard to the receipt of the money deposited in the account as reasonable.”

Repeated Precedence

The Israeli banking system has repeatedly had to be told by the courts not to block crypto businesses and users without justifiable reasons. In May 2018, for example, Bank Hapoalim, Israel’s largest bank, was forced by the same Tel Aviv District Court judge to accept a transfer of funds resulting from the sale of bitcoin to a client who had documents tracking the trade from beginning to end.

Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

In February 2018, the Supreme Court of Israel issued an injunction order forbidding Bank Leumi from sweepingly halting the account activity of the Bits of Gold bitcoin exchange.

What do you think about this court’s ruling? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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The post Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account appeared first on Bitcoin News.

Bitcoin News

He Was Close to Dying. Enter His Adopted Daughter

March 16, 2019 |

A North Carolina woman is on the verge of saving her adoptive father’s life, ABC News reports. “She told me, ‘Daddy, you thought you were saving my life pulling me from foster care but in actuality, you were saving my life so I could save yours later,'” Billy Houze,…
Newser

Administration Plans to Close Immigration Offices Abroad

March 13, 2019 |

As the Trump administration tries to strengthen immigration controls and move away from family reunification in favor of merit-based immigration, the US plans to close its 21 immigration offices abroad. That might slow down the work of processing family visa applications, foreign adoptions, and citizenship petitions from members of the…
Newser

U.S., China Close In on Trade Deal

March 4, 2019 |

China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year.
WSJ.com: What’s News Asia

6 Nations Have Legal Equality Among Sexes. US Isn’t Even Close

February 28, 2019 |

Women in Europe have it best, legally-speaking. Belgium, Denmark, France, Latvia, Luxembourg, and Sweden are the only countries that offer legal equality for men and women, according to a report by the World Bank. It looked at 35 indicators related to jobs, marriage, personal safety, property ownership, travel, inheritance, and…
Newser

Stocks close mostly lower Wednesday after uncertainty over trade unnerves investors

February 27, 2019 |

Most major U.S. stock indexes finished down Wednesday after healthcare, communications and technology companies weighed down the market.

The finish extended the market’s mild losses from a day earlier. Even so, the benchmark Standard & Poor’s 500 index is on track to end the month with a gain of…


L.A. Times – Business

China Trade Talks Extended as Trump Pushes to Close Deal

February 23, 2019 |

President Trump, citing progress in U.S.-China trade talks, said he is looking at extending a deadline to raise tariffs and hoping to meet next month with Chinese leader Xi Jinping to complete a broad trade agreement.
WSJ.com: What’s News Asia

Effort to Close Venezuela’s Border Turns Deadly

February 22, 2019 |

Venezuelan President Nicolas Maduro announced on state TV Thursday night that he was closing the border with Brazil “completely and absolutely.” The Washington Post reports a woman was killed Friday morning during an effort to keep a part of it open to allow humanitarian aid through on Saturday. A group…
Newser

Stocks Close Lower on Wall Street

February 21, 2019 |

Stocks are closing lower on Wall Street, breaking a three-day winning streak for the S&P 500, the AP reports. The modest decline in the benchmark index Thursday marked only the fourth loss this month. The losses were broad, with health care stocks, banks and energy companies leading the way lower….
Newser