Israeli Government Reportedly Investigating Unsuccessful Hack Targeting Crypt...

The Israeli government is considering taxing profits on bitcoin, said an Israeli paper this week. Business paper Globes reported that the Israel Tax Authority is mulling the prospect, believing that people who make profits from bitcoin owe taxes. "We cannot ignore this phenomenon which one way or another involves financial transactions and therefore we are examining its importance," an Israel Tax Authority source was quoted as saying. But a model for taxing profits was unclear, given that the country has not yet recognized bitcoin as an official currency, said Globes. Jonathan Rouach, CEO....

Israeli business newspaper Globes is reporting that the Israeli government is mulling the possibility of imposing a tax on profits from Bitcoin. The article states that the Israel Tax Authority is considering the move based on the idea that anyone who makes profits from Bitcoin owes taxes. It was unclear how exactly a tax on Bitcoin profits would be levied, though, as Israel has yet to even recognize Bitcoin as an official currency. Israeli Bitcoin exchange Bits of Gold’s CEO, Jonathan Rouach, suggests the tax authority is not prepared for the necessary paradigm shift to even know where to....

Indian authorities are reportedly investigating cryptocurrency exchange Binance in connection with an ongoing Chinese money laundering case that raked in more than 10 billion rupees ($134 million). Binance’s Regulatory Troubles Continue India is reportedly investigating whether the global cryptocurrency exchange Binance had any role in a Chinese money laundering scheme involving betting apps, local media reported Friday, citing people with knowledge on the matter. The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has summoned....

The Israeli government is now reportedly in the process of reviewing several crypto firms to issue operating licenses. Israel has reportedly enacted new regulations related to the cryptocurrency industry in order to combat illegal activities such a money laundering and terrorism financing.The government of Israel enforced new Anti-Money Laundering (AML) regulations on Sunday, requiring local fintech companies and virtual currency service providers (VASP) to obtain an operating license, local news agency Globes reported.The Israel Securities Authority, the Capital Markets, Insurance and....

India is no longer planning to ban cryptocurrency, a cabinet note circulated by the government reportedly indicates. Activities relating to crypto assets will be regulated by the Securities and Exchange Board of India (SEBI). Crypto Will Not Be Banned in India, Cabinet Note Indicates Despite reports of the Indian government planning to ban cryptocurrencies, NDTV reported Thursday that a cabinet note circulated by the government indicates that cryptocurrencies, like bitcoin and ether, will not be banned. Emphasizing that cryptocurrency is not recognized as legal....