Israel may include cryptocurrencies in securities legislation

At the end of November last year, the Israeli Finance Ministry presented a plan for the gradual legalization of the digital currency market.
The ministry is proposing to introduce a licensing mechanism for companies and strengthen controls over stablcoin issuers. The Ministry of Finance’s plan is advisory in nature, and the Israeli government is considering other regulatory options for the blockchain industry.
The Israel Securities Authority (ISA) believes that there is no need to develop separate legislation for the cryptocurrency market. Transactions in such instruments can be regulated using the regulatory framework applicable to securities.

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