Israel Securities Authority: Coins Are Not Securities, but Tokens Are

[kreslik.news]

The Israel Securities Authority today released a report detailing the conclusions of a committee which had been convened to discuss the applicability of Israeli securities laws to cryptocurrencies.

According to the report, the study was ordered because the agency understands that regulatory certainty is essential to both encourage the development of the industry in Israel and to maintain investor confidence in the capital market.

The conclusions reached by the ISA regarding the definition of cryptocurrency are significant because these definitions are what decide whether tax will be paid on profit made, and how much.

The ISA report lists several conclusions:

1. Cryptocurrencies which are ... (read more)