The Seoul court Thursday ruled that it was unreasonable for banks to freeze accounts for cryptocurrency exchanges.
This followed the similar ruling in favor of Coinis against NH Bank late last year.
The latest ruling would encourage other exchanges such as Bitsonic, and Vantasbit to file lawsuits against banks for shutting down their accounts.
The court said it was illogical for banks to close bank accounts with the exchange even though the exchange made it clear to use their accounts un real-name accounts.
The freezing of the accounts infringes upon the freedom of doing business and deals a blow to the cryptocurrency market, the court said. It also added that the exchange had done maximum efforts to prevent money laundering through the cryptocurrency trading.
The latest ruling raised fresh expectation that the government would change its negative policy toward cryptocurrency trading. Legislation has been under way to regulate cryptocurrency trading.
