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.
Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyrami...
Bank of Israel deputy governor confirms digital shekel pilot is underway
The bank has been exploring the introduction of a CBDC since 2017.
Israel's central bank floats possible digital shekel with new action plan
BNY Mellon, the oldest bank in the United States, continues to aggressively invest in the digital asset industry.
Fireblocks crypto startup raises $133M in funding round with BNY Mellon
The platform said it plans to complete the acquisition before the third quarter of 2021.
PayPal purchases digital asset security firm Curv
The Israel Securities Authority has approved a request from Simetria to operate a digital bulletin board for investors ahead of its digital securities exchange ...
Israeli digital securities exchange gets preliminary green light from regulators
Blockchain is changing how banks handle debt.
Israel’s Bank Hapoalim joins blockchain bank guarantee platform
The pandemic-induced crisis is galvanizing new trends across all aspects of the global economy, including digital currencies.
Russia's central bank says the pandemic has accelerated regulators' interest in CBDCs