Israel’s policy to regard cryptocurrencies as securities will destroy the industry.

Israel’s policy to regard cryptocurrencies as securities will destroy the industry.

Andrew Fenton, an editor from Cointelegraph magazine, talked with Ilan Sterk, CEO of Altshuler Shaham Horizon, about Israel’s policy towards cryptocurrency regulations. According to the Israeli framework for digital assets, only the ones that meet the Israel Security Authority’s (ISA) conditions will be regulated. However, Mr. Sterk said that the country’s policy towards cryptocurrencies could not be enforced the way it is, given that it contrasts with the nature of cryptocurrencies. He believes the current situation for cryptocurrencies is ‘quite complicated’ in Israel, and the current regulatory policies need to change.

ISA previously regulated some crypto assets as securities, but in early January, the organization authorized regulators with more power to modify the crypto framework. ISA seeks to supervise token issuers, exchanges, and other related institutes more efficiently through the new framework. Based on ISA’s proposal, asset issuers must publish their project documentation before receiving a license for registering the assets in the market. The public can also share their proposals for the matter until February 12^th.

Source: Pipsafe.com– Israel’s policy to regard cryptocurrencies as securities will destroy the industry.

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