Israelis can now buy bitcoins in person with Bits of Gold and local exchange bureau
Israelis can now purchase bitcoins at their local exchange bureau thanks to a new collaboration between bitcoin exchange Bits of Gold and Global Money Transfer (GMT). The partnership with GMT means Bits of Gold can ensure it complies with current and future anti-money-laundering and know-your-customer regulations in Israel. At the moment, the maximum amount of cash people can change into bitcoins via Bits of Gold is 10,000 Israeli new shekel (around $2,800). Jonathan Rouach, CEO of Bits of Gold, said he has been passionate about bitcoin ever since he heard about it back in 2010. "I....
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Dozens of Israelis who own digital currencies have recently received notification telling them they must fully disclose their assets for taxation purposes.
After a legal framework revamping in 2016, Bits of Gold became the country’s first active company to secure licensing to operate as a virtual asset service.
According to mathematician Meni Rosenfeld, Israel is a Bitcoin “forerunner.” With large numbers of users in the country, the number of startups and merchants continues to grow. Rosenfeld says: Among the list of Israel-based startups, Bits of Gold — in which Rosenfeld is an investor — GetGems and Polycoin lead adoption. “I think the Bitcoin community in Israel is more coherent than in many other places in the world, which can be attributed to the small size of the country. Everyone is in driving distance from anyone else, so its much easier to breed communities that actually meet up and....