Future Crypto News | Latest Country Updates for Crypto Currency

Israel

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Population

GDP per capital

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Banking

General adoption

One may say the adoption of cryptocurrencies in Israel is high, although the country falls behind the regulations around the world. Cryptocurrency is still not a legal tender and defined as a financial asset.

Government View

Although the government does profit from taxation on cryptocurrencies it does not regulate the issue and private banks are not allowed to deposit high amounts of money without a wide report about its whereabouts.

Blockchain Projects

There are many operating blockchain projects in Israel, among the biggest are StarkWare Industries, QEDIT, Blox, Orbs, Valid Network and more.

Taxes and Regulation

The Israeli government has announced a new act against money laundering and financial aid for terror organizations through cryptocurrencies. The new act also defines a privacy regulation and demands the individuals who trade with cryptocurrencies to display their identity and their financial background. In terms of taxation, individuals who trade cryptocurrencies would need in 25% tax on their profits.

Trading Methods

Trading

Privacy

A new act from February 2021 requires individuals and organizations to display their identification and financial background, before dealing with crypto, towards the authorities.

Last Updated

Monday, 31 October, 2022