Israel reportedly adopts new AML rules for crypto
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....
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The Israel Tax Department has drafted new cryptocurrency tax rules that consider Bitcoin as an asset, eligible for capital gains taxes. The cryptocurrency community in Israel now has some clarity about the legal status of Bitcoin in their country. The country’s tax authorities have recently announced that Bitcoin and other cryptocurrencies will be considered as assets and are taxable. The legal status of Bitcoin has always been a grey area in many countries across the world. But with the Israeli authorities clarifying their stance over the cryptocurrency, people can now manage their tax....
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 Minister Benny Gantz has ordered the seizure of cryptocurrency funds raised by the Palestinian Islamist movement Hamas. His department has reportedly started taking control over digital wallets used by the terrorist group to collect crypto donations from abroad. Defense Ministry of Israel Targets Crypto Addresses Used by Hamas Minister Gantz approved the seizure of the wallets on June 30, the Times of Israel reported on Friday. The National Bureau for Counter Terror Financing (NBCTF) published a list of targeted addresses and wallet details used by Hamas to raise....
The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thailand.
Thailand Adopts New Tax Rules for Crypto Investments
Thailand’s Cabinet approved new tax relief rules Tuesday for crypto trading, according to an announcement on the Thai government website.
Finance Minister Arkhom Termpittayapaisith and Deputy Minister of Finance Santi Prompat jointly disclosed the outcome of the meeting, confirming that....
Two Israel-based credit card companies, Max and Isracard, have started working on Bitcoin investment and cashback solutions via a credit card. Financial companies in Israel are increasingly moving into cryptocurrencies like Bitcoin (BTC), with two competing credit card firms working on BTC investment and cashback features.Two Israel-based credit card companies, Max and Isracard, have inked partnerships with crypto-related platforms in order to allow cardholders to purchase Bitcoin, the local news agency Calcalist reported on May 17.Max announced collaboration with the local crypto broker....