The regulator of Israel refused to recognize Bitcoin securities
Source:
At the end of last year, Prime Minister Benjamin Netanyahu that the traditional banks will eventually become obsolete, and to replace them can Bitcoin. Now the government has refused to recognize the first cryptocurrency security Bitcoin.com.
How to regulate cryptocurrency
About the decision became known from the recommendations on "the establishment of the balance between technical innovation and the protection of investors." They were released by the Office of the securities Israel (ISA).
as a General rule, cryptocurrency is intended solely for use as a payment, clearing of funds or medium of exchange whose use is not limited to one enterprise that does not provide additional rights will be deemed to be securities.
As the newspaper notes, the decision by the Israeli regulator in the first place is important for the ICO. The country's authorities with a progressive Outlook on pricevalue decided to distinguish between coins and tokens, issued by companies in the primary placement.
If the token cannot be used for payment of goods or services at the time of issue, it is a valuable paper. In this case, the Issuer is responsible to the securities Commission. If not, the coin is a digital money that is regulated by the relevant law.
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