Proposed Israeli law to classify crypto as securities will hurt the industry, says crypto exec

📆 9/02/2023 11:00 PM
📰 Cointelegraph

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Israel's regulators proposed classifying crypto as securities, but what would be the impact on the industry? According to Altshuler Shaham Horizon's CEO “you cannot classify all the digital assets as securities because it will kill the industry.”

He explained the current proposal is to have digital assets under the supervision of the Israel Securities Authority , the nation’s securities regulator.

It seeks to amend the definition of securities to include “digital assets” used for financial investment. It clarified the definition of “digital assets” as a digital “representation” of value or rights used for financial investment. Under the ISA’s proposal, issuers of digital assets would be required to publish a prospectus-like document before issuing or registering digital assets for trading.Meanwhile, the Ministry of FinanceIsraeli court rules authorities can seize crypto in 150 blacklisted wallets

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Proposed Israeli law to classify crypto as securities will 'kill the industry'Proposed regulations from the Israel Securities Authority (ISA) to reclassify cryptocurrencies as securities would seriously damage the crypto industry in Israel according to Altshuler Shaham Horizon CEO, Ilan Sterk.
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