Israel is a Middle Eastern country that declared independence in 1948. Israel is a representative democracy with developed political institutions and socio-economic structures. Israel is often considered to be the most advanced country in Middle East in industrial, technological and economic development. The leading exports of Israel are software, machinery, chemicals, textiles and agriculture. Israel is a platform for various blockchain startups. As technology adoption in Israel is fast, a lot of the population is actively using cryptocurrencies to trade, invest in ICOs and purchase goods and services. Considering these aforementioned factors, Israel’s tax authority has issued statements on cryptocurrency regulations. Cryptocurrency is not considered to be under the legal definition of currency and is taxed like a taxable asset. Miners and traders of cryptocurrencies are treated as businesses and are a part of those taxing regulations.
U.S. and Israel-based firms were charged for promoting fake investment schemes and defrauding customers of $15 million.
CFTC Charges Multiple Firms for $15 Million Crypto and Binary Options Scam
Israeli blockchain startup Orbs has come up with an idea to encourage people to self-quarantine by using a newly launched app.
Blockchain Startup Launches App to Encourage People Stay at Home Amid COVID-19
Cryptocurrency exchange ShapeShift has acquired Israeli non-custodial wallet provider Portis.
ShapeShift Acquires Non-Custodial Wallet Provider to Expand User Access to DeFi
As the world continues to fight with the rapid spread of coronavirus, data privacy comes into question.
Big Brother Capitalizes on Coronavirus Fears, Crypto Industry Responds
Israeli banks should not deny services to firms involved with cryptocurrencies, according to Israel's attorney general Avichai Mandelblit.
Israeli Banks Should Not Deny Services to Crypto Firms: Attorney General
Israeli blockchain startup Clear has raised $13 million in a Series A round led by Fidelity-backed Eight Roads.
Fidelity Leads $13M Funding Round for Israeli Blockchain Startup Clear
An international task force of French, Belgian and Israeli investigators brought down a fraud scheme responsible for stealing €6 million from French and Belgian...
Investigators Bust €6 Million Bitcoin and Gold Fraud Scheme