The second-largest bank in Italy, UniCredit, and Bitminer Factory, a Bitcoin (BTC), mining farm, have met each other in Banja Luka. They were both told by the court that the bank had closed the account improperly and they must compensate the plaintiff with EUR131 million (roughly $144 million).
According to La Repubblica, the court of Banja Luka ruled that UniCredit’s Bosnian branch had no legitimate reason to suspend Bitminer Factory Gradiska LLC operations. Bitminer Factory claimed that its losses were EUR131 million and that it had been prevented from launching a new project in the cryptocurrency mining industry with renewable energy in Bosnia-Herzegovina. The court accepted this number.
UniCredit claimed that it was unable to do business with exchange platforms and digital currency suppliers. However, the court ruled that this claim did not find confirmation in the bank’s written policies.
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UniCredit already appealed the allegation, claiming that they were unfounded
It is neither final nor binding nor enforceable. Ucbl’s eventual responsibility will be determined only after the completion of all procedural remedies, and in any case not before the filing a final, binding judgment by the court.
UniCredit’s previous controversy regarding digital assets was in January 2022. UniCredit had the need to respond to its own tweet stating that it did not prohibit customers from investing in crypto and that they were not planning to close their accounts.