After the g-20 announcement showing no further crackdown on global regulations, cryptocurrency has been everywhere in the headlines.
While we’ve seen positive and negative news around the world, Israel seems to be showing some kind indicators.
Cryptocurrency and Israel | Securities or Utility Tokens
Cryptocurrency and Israel usually aren’t synonymous, but recently their legal standings have been pro-cryptocurrency attracting headlines.
Today, we want to bring light to the Israel Securities Authority (ISA) and their stance on cryptocurrencies…
In the document, they outlined that ICOs and will have somewhat lenient regulations.
On top of that, they are creating a clear definition for utility tokens, and even proposing a sandbox to work with companies under supervision to build out regulations.
Their regulations will not include a blanket policy and instead reside on a case by case stating:
“A cryptocurrency shall be considered a security according to the array of circumstances and characteristics of each case, taking into consideration the purpose of the law. Cryptocurrencies conferring rights similar to those of conventional securities, such as shares, bonds, or participation units, shall be considered securities.”
There are many other important components needed to be an issued utility and not security like a working platform and not the promise of a future platform, as well as no promise of making X amount of money.
While the market is down and sentiment is all over the place, this is some good news coming out of a blockchain proponent.
Not only are they pursuing open cryptocurrency regulation, they are looking into incorporating blockchain technology into their government infrastructure via the Israeli Blockchain Association and startup Coalichain (read more at Cointelegraph).
Thanks for joining us on this crazy crypto revolution,
The GCA Team