Written by Jon Buckformer writerReviewed by Igor Belkinformer editorIsraeli Government Announces New ICO Scrutiny
Latest NewsPublishedAug 31, 2017
The Israeli government has recently announced, through the Israeli Securities Authority panel, that it will begin scrutinizing ICOs more carefully, and potentially regulating them.
The Israeli government has recently announced, through the Israeli Securities Authority panel, that it will begin scrutinizing ICOs more carefully and may potentially regulate them.
The Securities Authority head, Prof. Shmuel Hauser, has announced the formation of a committee to evaluate whether ICOs fall within the definition of a security as established by the Israeli government.
Further, the committee has been tasked with making an analysis of cryptocurrency regulations in other countries in order to evaluate the legitimacy of Bitcoin. The committee’s mandate is to create new regulatory policies which encourage alternative funding channels and technological innovation while at the same time protecting investors from unsupervised investments.
Udi Wertheimer, a digital wallet employee, pointed out the substantial policy shift via Twitter:
Looks like @coindesk and others missed this: Israel today announced it’ll investigate whether ICO tokens are securities. This is *big*: 1/n pic.twitter.com/d7KzcY9D7K — Udi Wertheimer (@udiWertheimer) August 30, 2017
The Israeli announcement brings additional threats of government control in Israel, where many ICOs have been started. The announcement comes after similar scrutiny was announced by the SEC in response to the DAO token sale.
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