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Italian Banking Giant Unicredit Fined $144 Million for Illegally Closing Accounts of Crypto Miners

By WebsCryptoMarch 29, 20221 Min Read
Italian Banking Giant Unicredit Fined $144 Million for Illegally Closing Accounts of Crypto Miners
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Italian banking giant UniCredit has been ordered to pay a fine of around $144 million for allegedly closing the accounts of a cryptocurrency mining company.

A subsidiary of the crypto mining company Bitminer Factory has filed a lawsuit against UniCredit’s bank accounts being closed, and UniCredit’s branch in Bosnia and Herzegovina will pay 131 million euros ($144 million), according to the Bosnia and Herzegovina local city Banja Luka District Court fine.

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The Bitminer Factory subsidiary accused UniCredit of wrongly closing its current account held at the bank’s local branch in Banja Luka. The court said the bank could not provide evidence of any written rules preventing financial institutions from establishing business relationships with crypto companies. Currently UniCredit An appeal has been lodged against the verdict.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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