Israel’s parliament moves forward with crypto tax exemption for foreigners

On June 5, a bill proposing exemptions from capital gains taxes on the sale of digital currencies in Israel passed the preliminary reading in the country’s parliament, the Knesset. The bill offers extra tax advantages for people who hold digital assets while clearly distinguishing between crypto assets considered securities and commodities. Clarity on crypto tax If passed, the bill would provide tax relief for the sale of digital currencies and align the taxation of crypto bonuses with stock options for employees. Currently, the tax rate for crypto bonuses stands at 50%, but…

Israel’s Central Bank Outlines Scenarios for Issuing a Digital Shekel

Scenarios that could influence a decision to issue a digital shekel include a decision by the U.S. or the European Union to issue CBDCs. A decline in cash usage, significant use of stablecoins, competition in the domestic payment system, and significant technological developments in payments systems could also sway the central bank’s decision to issue one. Source

Israel’s central bank says CBDC could be issued if stablecoin use increases

The Bank of Israel says it’s preparing an action plan for the potential issuance of a central bank digital currency (CBDC),though a formal decision has yet to be made. On April 17, the Bank of Israel Steering Committee on the Potential Issuance of a Digital Shekel outlined possible scenarios for the development and deployment of a CBDC, a digital shekel called “SHAKED.” It provided several scenarios that could lead to the issuance of a digital shekel, among them was increased stablecoin activity. Increased adoption of stablecoins may “impair the payment…

Israel’s Web3 Powerhouses Unite to Launch Inaugural ETHTLV

Israel’s most successful web3 businesses have come together to organize the first annual ETHTLV, which will run from February 1 to 9 in Tel Aviv. The inaugural event aims to invigorate the country’s thriving startup community, establish the community’s foothold in the global web3 scene, and discuss the steps web3 must take to onboard the next billion users. Attendees of the week-long series will learn from serial entrepreneurs who have forged businesses and become authorities in the web3 space, including: ConsenSys: a market-leading blockchain technology company founded by Ethereum co-founder…

Israel’s Securities Watchdog Seeks to Regulate Crypto Assets – Regulation Bitcoin News

The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s Securities Laws Aimed at Expanding Supervision Over Crypto Arguing that as crypto assets are often used for investment, the Israel Securities Authority (ISA) has insisted they need to be covered by the regulatory framework and placed under its oversight. To achieve that, the watchdog is…

Israel’s Securities Watchdog Moves to Better Supervise Crypto Assets

The amendments to the country’s laws would squeeze “digital assets” into existing securities regulations, according to the proposal, potentially treating most crypto as financial investments supervised by the ISA. The changes would define the assets as digital representations of value that are used for financial investment and that can be transferred using a distributed ledger, and digital assets would be added under the existing category of “financial instruments” in Israeli securities law. Source

Israel’s chief economist lays out recommendations for crypto regulation

Israel’s chief economist has laid out a list of recommendations as to how policymakers should tackle digital asset laws in the country in order to safely drive up crypto adoption. In a 109-page report submitted to the Minister of Finance on Nov. 28, Shira Greenberg, Chief Economist at the Ministry of Finance, called for a more comprehensive regulatory framework that would bring trading platforms and crypto issuers in line and would expand the powers given to its financial regulators.  Greenberg recommended Israel should improve investor certainty and protection by imposing stricter licensing…

Israel’s Ministry of Finance Proposes New Guidelines for Regulating Digital Assets

The recommendations call for the creation of a new regulatory infrastructure, legislating licensing powers and supervision over the issuance of backed digital assets, including stablecoins, and the provision of financial services through them. The recommendations also call for legislation to be passed that would transfer supervision over digital assets “that have a significant stability or monetary effect” to the Bank of Israel. Source

Israel’s Stock Exchange Unveils Plan to Create Digital Asset Platform and Venture Into Crypto – Exchanges Bitcoin News

The Tel-Aviv Stock Exchange, the only public stock exchange in Israel, has announced that it is entering the crypto space and creating a platform for digital assets. “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets,” said the CEO of the Tel-Aviv Stock Exchange. Tel-Aviv Stock Exchange Entering Crypto Space The Tel-Aviv Stock Exchange (TASE: TASE), the only public stock exchange in Israel, announced Monday its new strategic plan for the years 2023-2027.…

Israel’s Government and Tel Aviv Stock Exchange Preparing to Issue Digital State Bond

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