{"id":517756,"date":"2022-11-29T08:43:30","date_gmt":"2022-11-29T05:43:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/israels-chief-economist-lays-out-recommendations-for-crypto-regulation\/"},"modified":"2022-11-29T08:43:30","modified_gmt":"2022-11-29T05:43:30","slug":"israels-chief-economist-lays-out-recommendations-for-crypto-regulation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/israels-chief-economist-lays-out-recommendations-for-crypto-regulation\/","title":{"rendered":"# Israel&#8217;s chief economist lays out recommendations for crypto regulation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40b46fc02ac\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40b46fc02ac\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/israels-chief-economist-lays-out-recommendations-for-crypto-regulation\/#%E2%80%9D_Israels_chief_economist_lays_out_recommendations_for_crypto_regulation_%E2%80%9C\" >&#8221; Israel&#8217;s chief economist lays out recommendations for crypto regulation &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Israels_chief_economist_lays_out_recommendations_for_crypto_regulation_%E2%80%9C\"><\/span>&#8221; Israel&#8217;s chief economist lays out recommendations for crypto regulation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzEwNDRjZjEtYjY1MC00Mjk0LWIzODEtYTdjNjdiMjQyMTllLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Israel&#8217;s chief economist has laid out a list of recommendations as to how policymakers should tackle digital asset laws in the country in order to safely drive up crypto adoption.<\/p>\n<p>In a 109-page <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.il\/he\/departments\/news\/press_28112022\">report<\/a>\u00a0submitted to the Minister of Finance on Nov. 28,\u00a0Shira Greenberg, Chief Economist at the Ministry of Finance, called for a more comprehensive regulatory framework that would bring trading platforms and crypto issuers in line and would expand the powers given to its financial regulators.\u00a0<\/p>\n<p>Greenberg recommended Israel should improve investor certainty and protection by imposing stricter licensing requirements on trading platforms and issuers of cryptocurrencies, as well as ensuring funds originating from digital assets are more safely managed.<\/p>\n<p>She also recommended the Supervisor of Financial Service Providers have broader powers to oversee licensing rules and develop a more comprehensive taxation framework for the buying and selling of digital assets.<\/p>\n<p>Expanded powers for the Israel Securities Authority were also recommended by Greenberg, who stated the powers were needed in order to ascertain whether a digital asset falls within the scope of Israeli securities laws and to monitor the activity of payment service providers in the crypto space. <\/p>\n<p>In regards to legislation, Greenberg made mention of the need to implement specific licensing and supervision rules for stablecoin issuers, along with a proposed establishment of an inter-ministerial committee to examine and regulate blockchain-based decentralized autonomous organizations (DAOs). <\/p>\n<p>She added it was important that policymakers and lawmakers take into account the concept of technological neutrality when implementing digital asset-related rules. <\/p>\n<p>Minister of Finance Avigdor Lieberman praised Greenberg for her work, stating the report \u201cconstitutes the most comprehensive and up-to-date report currently available on this issue for government use\u201d in Israel and that he expects the \u201creport will serve as a basis for future decisions and legislation\u201d on digital asset-related matters in the months to come. <\/p>\n<p><strong><em>Related: Israel\u2019s regulator teases comprehensive crypto framework at ICC<\/em><\/strong><\/p>\n<p>Despite Israel often being referred to as a tech-savvy nation, the country hasn\u2019t shown to be too crypto-obsessed thus far, having <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.chainalysis.com\/reports\/2022-global-crypto-adoption-index\/\">ranked<\/a> 111th out of 146 countries in a recent global crypto adoption index conducted by blockchain data firm Chainalysis.\u00a0<\/p>\n<p>Greenberg also referenced data in her report that states that Israeli residents have accounted for 21 million blockchain-based transactions in total, which only equates to 0.04% of all crypto transactions worldwide.<\/p>\n<p>Meanwhile, only 2% of Israelis reported owning or using a crypto wallet.<\/p>\n<p>More adoption <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be on its way. The Tel Aviv Stock Exchange (TASE) recently announced on Oct. 24 that it intends on creating a blockchain-based platform to expand its trading services to cryptocurrencies. In the same month, TASE also kicked off live tests for a pilot project involving the tokenization of digital bonds, which is expected to be completed in Q1 2023.<\/p>\n<p>Government-issued licenses are finally being issued too, with Israeli-based trading platform Bits of Gold becoming the first firm to receive a license from the Capital Markets Authority in Sep. 2022 to store digital currencies through their own secured custody wallet and provide certain digital asset-related services to banks. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/israel-s-chief-economist-lays-out-recommendations-for-crypto-regulation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Israel&#8217;s chief economist lays out recommendations for crypto regulation &#8220; Israel&#8217;s chief economist has laid out a list of recommendations as to how policymakers should tackle digital asset laws in the country in order to safely drive up crypto adoption. In a 109-page report\u00a0submitted to the Minister of Finance on Nov. 28,\u00a0Shira Greenberg, Chief&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzEwNDRjZjEtYjY1MC00Mjk0LWIzODEtYTdjNjdiMjQyMTllLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,77189,75566,74355,117,2184,72692,70934],"class_list":["post-517756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-policies","tag-report","tag-adoption","tag-business","tag-israel","tag-legislation","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517756"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517757"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}