The Israel Securities Authority (ISA) could amend three of its existing monetary laws to squeeze in cryptocurrencies.
The regulator’s proposals seek to grant investors maximum security when dealing with digital assets, reminding about the recent collapse of FTX and the severe losses it caused to consumers.
Paying Attention to Crypto
Israel’s financial watchdog proposed that cryptocurrencies should be included in the nation’s existing securities legislation. As such, the regulator will directly supervise operations with bitcoin and altcoins. It will also put the asset class into the category of “financial instruments,” where securities, marketing, and joint investments are also located.
The potential amendment aims to give Israeli crypto participants additional protection and to underline the sector’s technological advancement.
“Cryptocurrencies are a digital representation of value used for the purpose of financial investment and can be transferred and stored electron
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