Tag: Israel

Israel releases preliminary CBDC design for digital Shekel

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The Bank of Israel released a preliminary design proposal for the digital Shekel (DS), Israel’s potential central bank digital currency (CBDC), despite no solid intent for an official launch. On March 3, the Bank of Israel’s Steering Committee issued an initial design for an in-house CBDC — outlining its supporting ecosystem, functionality, technical design, regulatory considerations and next steps. The central bank’s committee had previously identified six possible motivations for issuing a digital shekel, which include creating an alternative payment system and infrastructure, lowering costs, improving privacy and supporting the…

6 Bitcoin funds launch in Israel next week: report

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The global adoption trend for Bitcoin-related investment products continues to strengthen, with Six new mutual funds set to debut in Israel. According to a report by the Calcalist on Wednesday, Dec. 25, the Israel Securities Authority has given the green light for six mutual funds that will track the price of Bitcoin (BTC). ISA’s approval of the funds last week paved the way for their debut on Dec. 31, the report stated. Cacalist’s report reveals that ISA expects all six funds – from Migdal Capital Markets, More, Ayalon, Phoenix Investment,…

Six Bitcoin (BTC) Mutual Funds to Launch in Israel Next Week: Report

Six mutual funds tracking the price of bitcoin (BTC) will debut in Israel next week after the Israel Securities Authority (ISA) granted permission for the products, Calcalist reported on Wednesday. All six will start operations on the same day, Dec. 31, a condition imposed by the regulator, Calcalist said. Final approval for the funds was granted last week. The funds will be offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI, with management fees ranging from as high as 1.5% to 0.25%. One of the funds will…

Bitcoin dumps as Biden supports Israel hitting Iran oil facilities

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Bitcoin and altcoins continued their downward trend while crude oil prices jumped as the odds of a wider crisis in the Middle East rose. Bitcoin (BTC) retreated below $60,000 for the first time since Sep. 16 after Joe Biden hinted that he would support Israel hitting Iranian oil facilities, per Barrons. Other altcoins, like Ethena (ENA), Conflux (CFX), and Beam (BEAM), tumbled by over 15%, making them the worst performers in the top 100. Meanwhile, crude oil bounced back, with Brent and West Texas Intermediate surging by over 4% to…

Scenes From Israel, Where Protesters Blame Netanyahu for Deaths of Hostages

There is a word that until now was not used by Israelis to describe their Prime Minister, Benjamin Netanyahu. Yesterday it was everywhere: in red on handmade signs at the protests that broke out across the country, on angry social media posts in Hebrew, and in the mouths of outraged citizens: “Murderer.” The judgment followed the bitter news on what was supposed to be a joyous first day of the school year, Sept. 1. Not only were six more Israeli hostages in Gaza found dead. The details of their deaths…

Digital Shekel Challenge: Bank of Israel Engages 14 Teams for Digital Currency Innovation

The Bank of Israel has initiated the “Digital Shekel Challenge” to explore the potential of a central bank digital currency (CBDC) system inspired by the BIS Innovation Hub’s “Project Rosalind.” Fourteen teams from various sectors have been selected to propose innovative use cases. The challenge aims to integrate digital shekel with other payment systems and […] Source CryptoX Portal

Bank of Israel CBDC Decision Won’t Occur Before the ECB’s Call on Digital Euro: Reuters

Abir said whether the public will adopt a digital shekel is uncertain, and the bank is conducting a behavioral study on the subject. He said that one has to have “a good set of use cases.” But in a nation where two large banks dominate more than 60% of the market, the main incentive is to create a “level playing field for payment providers and allow them to compete with the banks” Source

Bitcoin Dips Below $60K as Israel Launches Strike on Iran

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Bitcoin Drops As Iran Launches Missile Attack On Israel

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The price of Bitcoin took a nose dive on Saturday following reports of Iran launching missile and drone attacks on Israel. Alongside the market leader, many other prominent cryptocurrencies also experienced a significant selloff as news of a brewing international conflict in the Middle East circulated on the internet. Bitcoin Suffers Major Decline For Second Consecutive Day According to multiple reports on April 13, Iran commenced a drone attack against Israel in retaliation to an attack on an Iranian diplomatic building in Syria on April 1 which claimed the lives…