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ripper234



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Ron Gross







LegendaryActivity: 1344Merit: 1002Ron Gross Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 09, 2013, 11:51:13 PM #22



1. My bank (Mizrahi Tfahot) has refused my request from more than a month ago to wire about $7,500 to Mt. Gox. They said they would "look into whether my request is ok or not" ... and haven't gotten back to me yet.

2. Another bank (Beinleumi) has formally refused one of their clients, and wrote



(Rough translation by me)



Quote From a check made in the bank it seems that your account contains activity involved with virtual currency.

The activity is characterized by issuing wire transfer to a company called MTGOX, through which this currency is purchased.



Virtual currency is anonymous and unregulated. Trading them is not regulated and thus poses a high risk for the bank.



Therefore, the bank has decided not to allow such activity for our customers, until guidance/clarifications are issued by the Israel Central Bank.



You are requested to stop any such activity.



We inform you that if you do not comply, we will have to refuse any activity directly or indirectly related to this area of activity.



Signed by his branch (Ramat Aviv) Updates:1. My bank (Mizrahi Tfahot) has refused my request from more than a month ago to wire about $7,500 to Mt. Gox. They said they would "look into whether my request is ok or not" ... and haven't gotten back to me yet.2. Another bank (Beinleumi) has formally refused one of their clients, and wrote in a formal letter (Rough translation by me)Signed by his branch (Ramat Aviv)

Executive Director

Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

caveden



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LegendaryActivity: 1106Merit: 1002 Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 10, 2013, 06:57:50 AM #23 Wow.... they simply deny you the right to spend your money, shamelessly.



This is serious. It's the most aggressive bankster attack on Bitcoin so far. Previous attacks focused the exchanges, this is targeting individuals.



I suppose Israeli people may continue using solutions as localbitcoin to counter such attack. But I wonder how easy it would be for Israelis to use this solution to bring and send bitcoins internationally. If it's not simple, that might provoke price differences.

farfiman



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LegendaryActivity: 1450Merit: 1000 Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 10, 2013, 10:14:38 AM

Last edit: June 10, 2013, 02:28:35 PM by farfiman #24 Quote from: caveden on June 10, 2013, 06:57:50 AM Wow.... they simply deny you the right to spend your money, shamelessly.



This is serious. It's the most aggressive bankster attack on Bitcoin so far. Previous attacks focused the exchanges, this is targeting individuals.



I suppose Israeli people may continue using solutions as localbitcoin to counter such attack. But I wonder how easy it would be for Israelis to use this solution to bring and send bitcoins internationally. If it's not simple, that might provoke price differences.



I guess they are scared shitless. Since it's a small market it's much easier for them to "contain" us from transferring money to Mtgox. Who knows, someday they might say we can can't transfer money to buy precious metals..... I guess they are scared shitless. Since it's a small market it's much easier for them to "contain" us from transferring money to Mtgox. Who knows, someday they might say we can can't transfer money to buy precious metals..... "We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."

Martin Armstrong

ripper234



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Ron Gross







LegendaryActivity: 1344Merit: 1002Ron Gross Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 10, 2013, 01:19:07 PM #25 Quote from: caveden on June 10, 2013, 06:57:50 AM Wow.... they simply deny you the right to spend your money, shamelessly.



This is serious. It's the most aggressive bankster attack on Bitcoin so far. Previous attacks focused the exchanges, this is targeting individuals.



I suppose Israeli people may continue using solutions as localbitcoin to counter such attack. But I wonder how easy it would be for Israelis to use this solution to bring and send bitcoins internationally. If it's not simple, that might provoke price differences.



Indeed.



I haven't heard of any case in the world where individuals were formally forbidden from wiring money to Mt. Gox (please let me know if I missed anything!)



Localbitcoins is fine ... we also have a Facebook group for exchange, but it's a small market and lacks liquidity.

Some Israeli exchanges are still working somehow ... for the time being ... but they're all limited in some way and at a constant shutdown risk. Indeed.I haven't heard ofwhere individuals were formally forbidden from wiring money to Mt. Gox (please let me know if I missed anything!)Localbitcoins is fine ... we also have a Facebook group for exchange, but it's a small market and lacks liquidity.Some Israeli exchanges are still working somehow ... for the time being ... but they're all limited in some way and at a constant shutdown risk.

Executive Director

Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

arruah



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LegendaryActivity: 1344Merit: 1004 Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 10, 2013, 03:55:21 PM #28 Quote from: ripper234 on June 09, 2013, 11:51:13 PM



1. My bank (Mizrahi Tfahot) has refused my request from more than a month ago to wire about $7,500 to Mt. Gox. They said they would "look into whether my request is ok or not" ... and haven't gotten back to me yet.

2. Another bank (Beinleumi) has formally refused one of their clients, and wrote



(Rough translation by me)



Quote From a check made in the bank it seems that your account contains activity involved with virtual currency.

The activity is characterized by issuing wire transfer to a company called MTGOX, through which this currency is purchased.



Virtual currency is anonymous and unregulated. Trading them is not regulated and thus poses a high risk for the bank.



Therefore, the bank has decided not to allow such activity for our customers, until guidance/clarifications are issued by the Israel Central Bank.



You are requested to stop any such activity.



We inform you that if you do not comply, we will have to refuse any activity directly or indirectly related to this area of activity.



Signed by his branch (Ramat Aviv)

Updates:1. My bank (Mizrahi Tfahot) has refused my request from more than a month ago to wire about $7,500 to Mt. Gox. They said they would "look into whether my request is ok or not" ... and haven't gotten back to me yet.2. Another bank (Beinleumi) has formally refused one of their clients, and wrote in a formal letter (Rough translation by me)Signed by his branch (Ramat Aviv) You have the right to file a case against them. And surely win. https://ensoex.com

peter.baril



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NewbieActivity: 11Merit: 0 Re: 2013-04-11 Israeli banks limit money connected to bitcoin. June 10, 2013, 09:00:55 PM #31 Quote from: ripper234 on June 09, 2013, 11:51:13 PM Updates:



1. My bank (Mizrahi Tfahot) has refused my request from more than a month ago to wire about $7,500 to Mt. Gox. They said they would "look into whether my request is ok or not" ... and haven't gotten back to me yet.

2. Another bank (Beinleumi) has formally refused one of their clients, and wrote "<clip>... refuse any activity directly or indirectly related to this area of activity.



Just to be sure I understand, they have refused to wire a portion of your own legitimate savings to a third party of your choice? Period?



So:



1) If you owed me $7,500 and wanted to repay me by wire, would that be ok?



2) If I, living in another country, choose to convert my $7,500 into some clothing, a mountain bicycle, vintage wine and some BTC, that is presumably outside the jurisdiction of any Israeli business?



3) If I later choose to donate some BTC from my bank to your electronic wallet, surely that is also outside the responsibility of a competing Israeli bank?



If my premises above are correct, I can only suggest you move your savings to a different bank.





Just to be sure I understand, they have refused to wire a portion of your own legitimate savings to a third party of your choice? Period?So:1) If you owed me $7,500 and wanted to repay me by wire, would that be ok?2) If I, living in another country, choose to convert my $7,500 into some clothing, a mountain bicycle, vintage wine and some BTC, that is presumably outside the jurisdiction of any Israeli business?3) If I later choose to donate some BTC from my bank to your electronic wallet, surely that is also outside the responsibility of a competing Israeli bank?If my premises above are correct, I can only suggest you move your savings to a different bank.