Banks

Bitcoin (BTC): a bank ordered to pay 144 million dollars to a mining farm

Innocence pays! – The second largest Italian bank UniCredit was condemned by the Bosnian court in Banja Luka in the face of a mining farm from Bitcoin (BTC). A conviction for facts sadly usualthe bank had arbitrarily decided to freeze the account of the mining company for the simple reason that its activity was related to cryptocurrencies. However, surprise, this discrimination is not at the moment not go unpunished and Bitminer Factory (the mining farm) was able to assert its sincerity and be heard by the courts.

BTC mining farm compensated

On Monday, the Italian newspaper La Repubblica reported in the Banja Luka court judgment that Unicredit had not no legitimate reason to freeze the operations of Bitminer’s account. Only the mining farm let it be known that this act would have cost it enormously in terms of its consequences. Indeed, according to Bitminer, closing its accounts would have hampered its ICO in relation to a startup project in the cryptocurrency mining sector with renewable energies. The value of the losses linked to this hindrance was estimated at $144 million by the company, which was accepted by the court.

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An innocent bitcoin mining farm? Unicredit appeals

Unicredit had declared in its defense that it had “an inability to do business with digital currency providers and exchange platforms”. A defense which, as we have seen, did not convince the Bosnian courts. However Unicredit appeals the decision characterizing the charges as misleading and unfounded. The bank therefore makes it known that the case is not over by highlighting the judgment as such:

“It is neither final, nor binding, nor enforceable. The possible liability of Ucbl(Unicredit) will only be determined after all available procedural remedies have been reached and, in any event, not before the filing of a final and binding judgment by the Court of Appeal. »

Source: en.cryptonomist.ch

As the cryptonomist media indicates, the bank is not in its first action of its kind and had already declared on twitter in January that its policy forbade its account holders to deal with counterparties that issue virtual currencies or act as trading platforms. Statement subsequently refutedmentioning a bank disinterest in active cryptos which would not result in a ban on customers investing in it, and thatno account closure was planned on this subject.

The hostility of the banks towards the cryptocurrency and BTC mining sector is a concept well understood by the entire community working in this field, unfortunately by force of circumstance. So that the companies suffer from this behaviorbut also the individuals who are affected by it. Ranging from transfer bans to exchange platforms at the gAccountsseveral banks have been able to show great mediocrity in the inevitable turning point in history. However, in rare cases which we hope will become generalized, the justice strikes and does not fail to put the banking sector in its place with regard to the abuse of power.

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