Israel’s Coming Crypto Laws Could Set Example for the Rest of the World
Estimates indicate that in 2017 Israel-linked ICOs raised almost $500 million, a remarkable slice of the total ICO pie that year. Israel’s regulators have also been alive to the changing financial landscape. This year has seen a flurry of output from various Israeli authorities seeking to make sense of the new global cryptographic reality. In January the Israel Tax Authority issued a circular on the taxation of digital tokens; in March the Israel Securities Authority released its highly detailed “Interim Report on the Regulation of Decentralized Cryptocurrencies” (with a follow-up report due out around October); and in October legislation will come into force, defining virtual currencies as “financial assets” and mandating licensing for related services.
