Expected $1 Billion Crypto Windfall Shrinks To Fraction In Israel Disclosure ...
Only 58 people came forward under Israel’s voluntary crypto disclosure program, leaving the tax authority far short of the billions of dollars it had hoped to collect. Officials had expected a surge in corrected filings and fresh tax payments, but the early results point to a much quieter response. Related Reading: Bitcoin Eyeing $60,000 Support […]
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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....
Israel’s Defense Ministry has seized 30 crypto accounts belonging to organizations affiliated with the al-Mutahadun exchange company. The crypto wallets associated with 12 exchange accounts have been linked to the Gaza-based terrorist group Hamas. According to the Times of Israel, Israel’s Defense Ministry stated on Feb. 28 that al-Mutahadun aided Hamas’ military branch by transmitting […]
Israel’s central bank says the public’s adoption of the digital shekel is not expected “to materially affect the banking system.” The bank, however, warns that any issuance of such digital currency will likely result in a decline of the volume of the public’s deposits.
Increase in the Banking System’s Interest Expenses
Israel’s central bank, the Bank of Israel (BOI), has said its analysis of the proposed digital shekel’s possible impact on banking stability showed that the expected effect is not as significant as....
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,....
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....