Ilan Sterk, CEO, Altshuler Shaham Horizon. Source: Facebook
“To classify a digital asset as a security, it’s changing everything here,” he said. Sterk didn’t think the current proposal would be enacted as is, saying he was “not sure it will be the same as they want to be,” and added:The ISAin early January that would give the regulator sweeping new powers to police the Israeli crypto industry.
The ISA also seeks powers to oversee the crypto industry and wants the reins to set requirements for issuers and intermediaries and also impose sanctions for non-compliance. Among the proposals was one which allowed crypto service providers to operate in Israel, at least temporarily, if they had a parallel license from abroad.
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