Israeli Ministry of Finance presented a plan to legalize the cryptocurrency market

Last Monday, the Ministry of Finance of Israel published its own program for the gradual implementation of the regulatory framework for the cryptocurrency market. The agency’s plan is advisory in nature.
The Ministry of Finance proposes to pay special attention to the mechanism of licensing of cryptocompanies and supervision of mining digital currencies, including the issue of stabelcoins with real security.
The Bank of Israel should take on regulatory functions. In addition, the Ministry of Finance proposes to introduce taxation of cryptocurrencies stored on foreign platforms, but owned by Israeli companies and citizens.

Leave a Comment