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Benjamin Netanyahu, the Prime Minister of Israel claimed in a video published on Tuesday that Bitcoin holds the very potential to revolutionize the way financial transactions are entered into and dealt with. If its rapid stride maintains its consistency in days to come, then it can soon render the traditional financial institutions obsolete and replace their activity in totality. His claim was mostly based on the decentralized nature of Bitcoin which can easily be accessed by people across the globe as well as its meteoric growth in the current fiscal. Like a lot of other countries close to the environment, Israel has been taken absent by the bitcoin mania in the very last couple of months. The nearby media reports value improvements day-to-day, it interviews persons that became millionaires overnight and displays the very long lines of men and women waiting around outdoors bitcoin ATM locations in Tel Aviv.

The company claims that the banks’ refusal to open an account for it is in violation of the law and shows lack of good faith, as some of them manage similar accounts for competing companies. According to the report, the lawsuit also raises a concern that the banks have illegally incorporated as a cartel and unjustifiably prevented the opening of the account, thus thwarting the company’s activity and causing it financial damages.

Public interest in digital assets has exploded this year, spurred by technology innovation and diminished trust in governments and central banks after the financial crisis. As bitcoin soared above $11,000 from its 2016 close of $952, the largely unregulated trading has drawn increasing calls for rules to protect investors and safeguard governments from losing tax revenue.

Two years after legislators in New Hampshire decided that they would not allow their citizens pay their taxes with bitcoin, the Arizona state legislature is mulling a bill that would pave the way for people to pay their Arizona taxes with cryptocurrencies, Coindesk reported. In January, Arizona lawmakers had submitted a bill that would allow taxpayers to use bitcoin – and other cryptocurrencies – to pay tax and any interest and penalties” to the Arizona Department of Revenue.

After Zebpay , Unocoin and Coinsecure , Mumbai-based Koinex , a multi-cryptocurrency exchange and trading platform, has recently closed Pre Series A round of funding led by Dirk van Quaquebeke, Managing Partner of Beenext and Daniel Morehead, founder and CEO of Pantera Capital. This is yet another evidence of VCs’ growing fondness for investments in Indian cryptocurrency-based startups.

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