The Israeli Securities Authority (ISA) has proposed a series of legislative changes relating to digital assets, inviting comments by February 12. Where a digital asset is a financial investment, it will be treated as a security. The aim is to provide greater clarity about which digital assets are regulated by ISA, and to prevent areas where investments are unregulated because of definitional issues. Regulatory efforts have accelerated following cryptocurrency collapses such as FTX and Israeli-linked Celsius.
The proposals follow a November 2022 publication by the Ministry of Finance regarding plans for regulating the digital asset sector. More on that later.
Digital assets or crypto-assets have numerous definitions around the world. The proposed Israeli one for digital assets: “a digital representation of a value or right, used for the purpose of financial investment, and can be transferred and stored electronically by using distributed ledger technology (DLT) or another technology.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
