Mazel Tov! Bitcoin on the Rise in Israel
The Western Asian country of Israel is one of the emerging countries when it comes to bitcoin adoption. With an eight million odd population, the country has a prolific startup ecosystem that is quite similar to that in the United States, United Kingdom and India. Few well-known Bitcoin based startups have emerged out of this ecosystem. Some of the Bitcoin startups from this nation include Polycoin, Bitrated and Coin Commerce. Polycoin. Based out of Tel Aviv, Polycoin is a bitcoin payment processor that enables businesses to collect payments in bitcoin. Unlike other services, Polycoin....
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New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash Purchases, Introduce Lower Limits Payments of large sums of money in cash and bank checks will be further restricted in Israel by amendments set to take effect on Aug. 1. Tax officials want to further reduce the circulation of cash in the country,....
Binance has reportedly halted services in Israel after the cryptocurrency exchange was approached by the country’s financial regulator inquiring about its activities and the licenses under which it operates. A growing number of regulators have been scrutinizing Binance for operating without a license in their jurisdictions.
Binance Halts Crypto Services in Israel
Israel’s Capital Market, Insurance, and Savings Authority has reportedly approached Binance regarding the crypto exchange’s activities in the country.
The authority, which is responsible....
A new report from global professional services firm Deloitte focuses on Israel's development into a blockchain hub, outlining the work of a number of startups working on distributed ledger solutions across a variety of industries. "The country’s unique experience with FinTech, cyber and cryptography, has positioned Israel as a hotspot for blockchain innovation," Deloitte says. The report provides an overview of blockchain technology and its use cases and introduces 38 young firms that it believes are "leading the blockchain revolution" in the Middle Eastern nation. Each....
On March 24th, Israel's most reputable exchange entered the booming Vietnamese market. Israel & Bitcoin: Fertile Ground. Bit2C Ltd, one of Israel's largest bitcoin exchanges, was born only one year ago. When Co-founder and CEO Eli Bejerano was introduced to bitcoin, he saw potential for it immediately. Initially, he wanted to create a news site for bitcoiners, but written in Hebrew, since most of the information on the innovation was in English. However, his idea quickly transformed from a bitcoin news site to a bitcoin exchange, where Israelites could buy and sell the cryptocurrency:"We....
In an effort to encourage Israelis away from using cash and towards paying digitally, Israel recently enacted a new regulation limiting the use of cash on August 1st. Starting in 2019, an Israeli company’s cash transaction limit was 11,000 NIS ($3,200) per client. With this restriction on using cash transactions with clients, Israel continues its […]