Published
5 years ago on
September 21, 2018
“Gasser said he was preparing a report blockchain regulation methods and factors and would be submitting recommendations by the end of the year with the aim that parliament could approve in 2019 and the new regulations could be implemented the following year.â€It also seems that as a result of this, Israeli authorities will be working alongside Swiss authorities to set out regulations for cryptocurrencies in Israel, suggesting that the country is about to take on a similar positive approach to cryptocurrency, something that until now was otherwise uncertain. According to CCN:
“While one could be forgiven for assuming that Swiss regulators are bringing more to the table in their information exchange, Israel is also a major tech hub. It’s the source of most Intel processor chips, and Bitcoin mining rig giant Bitmain has announced that it’s tripling its development center in western Israel to increase ASIC manufacturing. Last year the Israeli Prime Minister Benjamin Netanyahu even suggested that the era of traditional banks and banking was coming to a close altogether and that cryptocurrency may be the turning point.â€Could we see crypto adoption in Israel? We do believe it will take a while for Israel to become as ‘crypto-positive’ as Switzerland, however with Swiss regulators now working alongside their Israeli counterparts, we can expect that in the future, Israel will too become a hub for the exploration of blockchain technologies and indeed, the adoption of cryptocurrencies too. References CCN
