• Aversion by Israeli banks is causing a hindrance for crypto tax payments
  • Bitcoin traders in Israel are reportedly having problems being able to pay taxes as banks continue to refuse crypto deposits, according to local press.

 

The local newswire Haaretz, details that cryptocurrency holders are unable to pay taxes owed for their trades/investments.

In terms of the issue, it stems from several banks not accepting shekel deposits from the gains accrued from cryptocurrency investments. Without shekels in their local bank accounts, many Israeli crypto investors are having heavy liens placed on their accounts. Commenting on the 

An Israeli Bitcoin investor was speaking on the matter to Haaretz and revealed: 

 

The tax authority is aware of the problem, but they say the ball isn’t in their court. I’ve tried working with almost all the banks, but the minute they hear the word ‘Bitcoin’ they freeze u

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Polygon's MATIC price signals hard times to come, here's why

Polygon's MATIC price signals hard times to come, here's why

Polygon’s MATIC price signals bears have re-entered the market. If the profit-taking continues, a cataclysmic fall could occur to breach the $0.31 lows. Polygon's MATIC price could justify the old traders saying that "early buys quickly die".

More Polygon news

Is the Safemoon price warning investors of a future rug pull?

Is the Safemoon price warning investors of a future rug pull?

Safemoon price shows signs of failure. More decline is expected unless the bulls can hurdle the descending trendline. Safemoon price could experience more decline as the bulls are being tested at the psychological $0.0005000 level. 

More SafeMoon news

Is Terra’s LUNA price preparing to double?

Is Terra’s LUNA price preparing to double?

Terra’s LUNA price sees compression of 8- and 21-day simple moving averages. LUNA price volume has tapered out considerably amidst June’s downtrend. Invalidation of the uptrend is a breach below $1.60.

More Terra news

Bitcoin Price Prediction: A falling knife or Michael Saylors' sword in stone?

Bitcoin Price Prediction: A falling knife or Michael Saylors' sword in stone?

Bitcoin price shows concerning signals as the bears have recently rejected the $22,000 ascension. It appears smart money wants to negotiate for the peer-to-peer digital currency at a much lower price.

More Bitcoin news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP