Israeli Banks Freezing Crypto Accounts | Crypto Craft

  • Israeli Banks Freezing Crypto Accounts

    From asiacryptotoday.com

    Israeli cryptocurrency investors are having a hard time making cryptocurrency deposits into their bank accounts. A report from Israeli media Ha’aretz, says the financial institutions unfamiliar with the technology are declining deposits obtained from crypto. Consequently, a large portion of digital currency holders in the Middle Eastern nation now cannot pay their taxes. Besides the lack of familiarity with emerging technologies, crypto investors have other odds stacked against them. There are, for instance, terrorist financing and money laundering concerns. There have been reports that terrorist groups have asked ... (full story)

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TudorIoan
Aug 15, 2019 4:56am — Edited
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Quoting Cryptobuzz
{quote} Price action does not matter in the long term. What matters is more countries are adopting BTC and which means the "larger picture" for BTC is generally bullish. Each and every asset class (Stocks, bonds, and commodities) historically has had booms and busts and BTC and crypto are no different.
False analogy. Here's why:
1. Bitcoin's volatility is not alike any regular class asset;
2. Booms and busts of stocks, bonds, and commodities are caused by dynamics of the real economy, not mainly by speculations;
3. Lately, the price action for bitcoin was not on long term, bitcoin collapsed in just a couple of weeks. If the NZ economy would have been in bitcoin, that crash would have ruined NZ economy, all investors would have gone bankrupt.
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TudorIoan
Aug 14, 2019 4:43am
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Quoting Cryptobuzz
On one side of the world, countries like NZ are adopting crypto with both hands, while countries like India and Israel are creating problems for Crypto. I think its clear which countries will adapt to the inevitable change faster than the others.
What do you think it will happen with an economy like the NZ after adoption of the bitcoin, if the bitcoin will be pumped again up to 20K and then it will be dumped down to 3K?
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TudorIoan
Aug 14, 2019 2:58am
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OMG! Poor digital currency holders in the Middle Eastern nation!!!
Now they cannot pay their taxes. I guess they are devastated deep in their hearts !!!
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Cryptobuzz
Aug 14, 2019 3:20am
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On one side of the world, countries like NZ are adopting crypto with both hands, while countries like India and Israel are creating problems for Crypto. I think its clear which countries will adapt to the inevitable change faster than the others.
Reply
Cryptobuzz
Aug 15, 2019 4:00am
Permalink
Quoting TudorIoan
{quote} What do you think it will happen with an economy like the NZ after adoption of the bitcoin, if the bitcoin will be pumped again up to 20K and then it will be dumped down to 3K?
Price action does not matter in the long term. What matters is more countries are adopting BTC and which means the "larger picture" for BTC is generally bullish. Each and every asset class (Stocks, bonds, and commodities) historically has had booms and busts and BTC and crypto are no different.
Reply

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