Israeli digital securities exchange gets preliminary green light from regulators
The Israel Securities Authority has approved a request from Simetria to operate a digital bulletin board for investors ahead of its digital securities exchange launch. An Israeli start-up that aims to establish a digital ledger technology-based digital securities exchange in the country has received its first, encouraging go-ahead from the Israel Securities Authority.In an application letter filed with the regulator on Feb. 14, Simetria had sought the ISA's approval to operate a digital bulletin board as a preliminary step in its roadmap for the eventual launch of its digital exchange. The....
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Over the past two months numerous regulators have issued warnings against the use of digital currencies, and some have even taken concrete steps to halt trading, most notably China and India. Israel, however, appears to be taking a different approach. Israeli regulators are not ignoring digital currencies, they are simply waiting to see what the rest of the world does about them. Certain Israeli financial institutions are engaged in bitcoin transactions, and they would like to see clear guidance from regulators. However, the Bank of Israel, the Israel Securities Authority and government....
The Bank of Israel (BoI) and the Israeli Ministry of Finance have issued a joint statement calling on the public to exercise caution with regard to digital currencies. The warning falls in line with what we've heard from regulators across the world over the past few months. The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them. The joint statement was issued following a meeting convened by the Governor of the Bank of Israel,....
The Israel Securities Authority (ISA) recently ruled that utility tokens issued by companies are securities and, therefore, cannot be classified as assets. The ISA’s decision comes after Israeli tech startup Kirobo sought to convince the regulator that its planned token issuance did not amount to a security offering. Token Value Growth However, in response to Kirobo’s claims, the ISA published a position paper explaining why the planned token offering should “be subject to Israeli securities regulations.” In brushing aside Kirobo’s averments, the ISA insists....
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