In this case, a bank closed a bank account of one of its clients when it found out that the accountholder used the account to receive funds securing transaction entered into on a Bitcoin currency exchange market. One of the arguments put forward by the bank for closing the account used by the accountholder is that the account actually qualified as a payment account within the meaning of the Payment Services Directive, which may therefore be operated only by a true payment services institution. This argument was upheld by the Paris Court of Appeal.