Israeli Lawmakers Want to Classify Crypto as Securities. This Will “Destroy the Business”

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The ISA seeks to have the authority to establish standards for intermediaries and issuers, impose sanctions for non-compliance and regulate the cryptocurrency market.
Before issuing or registering digital asset for trading, issuers will need to publish a document similar to a prospectus under ISA’s proposal.
According to an Israeli cryptocurrency service provider, proposed regulations in Israel that would classify cryptocurrencies in securities would severely harm the country’s cryptocurrency market. According to the ISA’s latest estimates, more than 200,000 Israelis have invested in cryptocurrencies. The local crypto industry is thought to be home to some 150 enterprises.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: coincu.comAnnieCoincu NewsTags: Classify CryptoDestroy The BusinessIsraeli cryptocurrency serviceIsraeli Lawmakers