The Israeli Financial Market Authority seems to be thinking about banishing companies from the country's stock exchanges, which do business with Bitcoin or other cryptocurrencies. The reason for these considerations is insufficient regulatory framework conditions, as the Supervisor complains. In the coming week will now be discussed in more detail about how to continue.
Just a few days ago, we reported on the plan by the Israeli Ministry of Finance to issue its own nationwide cryptocurrency, the crypto-shekel, in collaboration with the country's central bank. The reasons given for the need included the containment of money laundering and tax evasion. The fact that this measure is also aimed at pushing back Bitcoin and other non-governmental crypto-currencies is evident in the current debate about banning cryptocurrencies from the stock market.
For example, Schmuel Hauser, ISA's Chief Operating Officer, is in favor of refusing to support business models based on cryptocurrency trading unless there is sufficient regulation for them. Accordingly, even companies operating in this field are not expected to issue stock exchange licenses and impose a temporary trading restriction on these companies until satisfactory regulatory action has been found.
With that, Israel is taking a different path than its US protective power, where bitcoin futures trading was launched on two major stock exchanges later this month. First, the trade started on 10.12. on the Chicago Board Options Exchange (CBOE), before closing on 17.12. also at the futures exchange CME was launched.
The slightly different way that Israel approaches cryptocurrency acceptance may also be related to the fact that the State of Israel has always placed a greater focus on counter-terrorism as a national task. The risk of abuse of Bitcoin for terrorist financing, which threatens inadequate regulation of the cryptocurrency, thus seems to be a risk that nobody in the Jewish state wants to take in sight.
Thank you for reading!
Don't forget to upvote, resteem and follow me for more content & contest
Tradingview, https://www.tradingview.com/u/Tradewonk/
Instagram, https://www.instagram.com/tradewonk/
Or any of my other social media channels. Please consider getting your
free account here on Steemit.
"Join the adventure and be inspired." - Tradewonk
