Israel examines Bitcoin-backed bonds

Israel’s Capital Market, Insurance and Savings Authority has requested that insurance companies and investment houses report any dealings that relate to Bitcoin.

According to local publication Calcalist, the Capital Market, Insurance and Savings Authority will require detailed transcripts of discussions and meetings which touch on crypto investments.

Israel is the latest country to toughen its regulatory stance on crypto as the technology becomes increasingly popular across the world

The new measures come in response to Silver Castle and the Tel Aviv Stock Exchange (TASE) releasing Bitcoin-linked bonds on TASE UP, a trading platform that targets the private sector in the country.

Israel has made several regulatory moves to increase scrutiny of the sector over the last few months.

The country’s Justice Department issued a new AML order and the Ministry of Finance has issued a new rule that essentially states that any holdings in crypto exceeding $61,000 will be subject to tax.

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Updated: 08/16/2021 — 13:00