Bitcoin Account Suspended by Twitter

Twitter has suspended the original account of @Bitcoin which was immediately noticed by such major figures as Charlie Lee and Roger Ver
09 April 2018   1454

There are a lot of news every day regarding the cryptocurrency regulations, but Twitter blocking the accounts of major cryptocurrecnies is something new. Twitter was always blocking fake accounts, or the ones impersonating famous figures and those which were trying to steal money from other users by posting fake challenges and airdrops. But on April 8, Twitter has suspended @Bitcoin account, which was supposedly violating Twitter Rules.  

Charlie lee tweet regarding bitcoinCharlie Lee tweet regarding Bitcoin account

The news of suspension did not remain unnoticed by crypto community, and such major figures as Charlie Lee, Roger Ver and others have posted about it on their Twitter profiles. Moreover, the news received a lot of attention among Reddit users.

Roger Ver tweet regarding Bitcoin accountRoger Ver tweet regarding Bitcoin account

Ther opinions of the community towards the news of @Bitcoin account suspension were divided, as some of the users thought that it is good news as the account was for years and years "basically a price bot". Others were unsatisfied stating that Twitter banned @Bitcoin account, but did not bother to suspend thousands of other fraudulent and fake accounts, which certainly violate the Twitter Rules.

Currently the @Bitcoin account name is taken by a new user with around 1600 followers, supposedly not related to cryptocurrency, and the account is private, so there is no possibility to view the tweets.

Israeli BTC Investors to Face Catch 22

They need to pay taxes from Bitcoin investing in order to avoid their property arrest, but banks don't take their money due to AML issues
06 August 2019   180

Bitcoin investors in Israel are faced with the impossibility of paying taxes, as local banks refuse to accept funds received from the sale of cryptocurrencies because of the risks of money laundering and terrorist financing. About this writes the local edition of Haaretz on August 6.

Bitcoin is not recognized as a currency in Israel, therefore, individuals must pay 25% of the income from cryptocurrency trading to the treasury, and legal entities - 47%.

Investor Ron Gross told the publication that he acquired bitcoins in 2011 and reported his income to the tax office. In 2017, the bank that served Gross began to refuse to accept funds received from the sale of bitcoins. The investor met with representatives of the bank to demonstrate to them a 70-page history of bitcoin transactions as confirmation of the origin of the funds, but failed to convince them.

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

Ron Gross

Bitcoin investor from Israel

 

Since Gross was unable to pay taxes on time, his bank account, home, and even scooters were arrested. According to the investor, the tax authorities know about the problem, but can do nothing.

According to Haaretz, the tax office is aware of $ 86 million in unpaid taxes on income from cryptocurrency trading. It is possible that the real amount may be significantly higher.

Roy Arav, another Bitcoin investor, kept the proceeds from trading Bitcoin in an account with Israeli bank Discount under the control of the Bit2C exchange. The bank refuses to transfer money to Arava’s personal account under the pretext that its politicians forbid it to transfer funds related to virtual assets to client accounts due to the risks of money laundering and terrorist financing.

Arav also could not pay taxes and was forced to sue the bank. According to the investor, the authorities entered his position and granted him a deferral of time for the consideration of the claim.