Numerous Israeli banks and regulators have stepped in to assist with the flow of these crypto donations. According to a source close to the initiative, for the first time, these banks will most likely provide a bridge to move those crypto assets to the banks. Source
A collective of local leaders in the cryptocurrency space, including Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association and Bits of Gold, have joined together to establish Crypto Aid Israel, a global fundraiser to help displaced Israeli citizens in need of humanitarian aid. The ongoing and unfolding conflict has taken a heavy toll on the local civilian population, with casualties currently estimated in the thousands. According to Israeli news source Haaretz, the attacks on Israeli’s local population have resulted in the deaths…
Oil prices rose today as Hamas and Israel continue their conflict with many injured and several dead on both sides. Oil prices have risen following the conflict between Israel and the Palestinian militant movement Hamas as the fight extends into the third day. Global benchmark Brent hit $88.41 per barrel on Monday after rising by 4.53%. The US West Texas also recorded an increase, climbing 4.69% to $88.67 a barrel. The conflict between both sides does not directly impact oil prices as neither is a major oil producer. According to…
This is not the first time Israel’s central bank has intervened in the foreign exchange market to stabilize the shekel. The Bank of Israel has announced its intention to sell up to $30 billion in foreign reserves to support the Israeli shekel as it faces its weakest point in seven years. The decision comes in the wake of a sharp currency depreciation, reaching its weakest point in seven years, following a deadly incursion by Hamas militants over the weekend. The incursion by the Palestinian militant group Hamas, which occurred during…
The U.S. pre-market futures slid Monday morning, while stock indexes in Asia slumped. Source
This week, FTX founder Sam Bankman-Fried’s trial began; the crypto sector witnesses more layoffs; a Hamas-led attack stuns Israel; Ripple vs. U.S. SEC continues. SBF faces trial Sam Bankman-Fried’s trial continues on Tuesday, Oct. 10 with testimony from former Alameda CEO Caroline Ellison. Before the trial began on Oct. 3, attorneys declined a request for a Ukrainian FTX customer to testify remotely. Prosecutors wanted this because most FTX clients live in the U.S., and one Ukrainian couldn’t travel due to wartime restrictions. Bankman-Fried’s legal team cited concerns about the emotional…
The Bank for International Settlements and the central banks of Hong Kong and Israel released the results of Project Sela on Sept. 12. The project was a public-private partnership that used private intermediaries to create a retail central bank digital currency (rCBDC) combining the desirable characteristics of cash and the advantages of digitalization. The project leveraged the central banks’ diverse experience to incorporate a number of predefined policy, security, technology and legal features. The private participants were fintechs FIS and M10 Networks, which provided core products, Clifford Chance for legal…
According to BIS research, 93% of central banks across the world are investigating the feasibility of issuing CBDCs. The Hong Kong Monetary Authority (HKMA) and the Bank of Israel (BOI) have partnered to address the privacy concerns associated with central bank digital currencies (CBDCs). This is according to a joint report titled “Project Sela – An Accessible and Secure Retail CBDC Ecosystem” released by the two central banks and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre. Project Sela has reportedly demonstrated that CBDCs have the potential…
Police in Israel have reportedly accused entrepreneur Moshe Hogeg of defrauding users out of roughly $290 million through scams involving crypto projects. According to an Aug. 23 report from the Times of Israel, the national police force recommended to prosecutors that Hogeg be charged with fraud, theft, money laundering, and sex crimes, accusing the Israeli citizen of raising $290 million from investors for crypto projects under false pretenses. The entrepreneur had been previously detained by Israeli authorities in November 2021 for allegedly engaging in unlawful activities including fraud involving cryptocurrency,…
“The team examines the required regulation, including regarding the corporate status, the taxation aspects and other aspects of DAO in order to create legal certainty, reduce the risk factors in the activity through DAO and realize the potential for the Israeli economy,” the notice said, adding that comments submitted by the public can be used to formulate the team’s policy recommendations. Source consultsDAOExaminationIsraelPublicRegulationSetsSpecialTeam CryptoX Portal