Bank of Israel allowed crediting profits generated from cryptocurrency activities

Follow us on telegram

The relevant directive has already been prepared and sent to local banks

Bank of Israel allowed crediting profits generated from cryptocurrency activities

05.01.2022 - 09:00

406

1 min

0

What’s new? According to the media reports, the Israeli regulator has softened its stance on cryptocurrencies. According to the new directive of the Bank of Israel, the country's financial institutions will be able to credit citizens' accounts with profits earned from crypto assets transactions.

News source on the Cryptopotato website

What else is known about the new directive? The residents of Israel will be able to transfer profits from trading operations to banks, but only legal transactions are involved. The banks will ask citizens for the source of the funds’ nature before crediting them.

Despite the regulator's permission, each bank will make the final decision on its own. “Crediting profits can be refused even in cases, which do not really create a real risk of money laundering,” Ron Tzafrati, vice president of the Bit2C exchange, explains the new measure.

Author:

Editorial GetBlock Magazine

Useful material?

Telegram Newsletter Twitter

Market

Stablecoin volume on the Ethereum blockchain hits record at $908 billion

The criminal funds were moving on the Ethereum and TRON networks

May 16, 2025

Crypto regulations

Kazakhstan’s Vice Minister suggests that crypto regulation should be relaxed to develop the country as a regional crypto hub

The official also noted that mining companies can play a key role in modernizing the country’s energy infrastructure

May 14, 2025

Market

Uniswap has become the first DEX with a trading volume of over $3 trillion

The exchange’s daily volume surpasses the $3 billion mark

May 12, 2025

Market

Media: Meta plans to integrate payments in stablecoins

According to anonymous sources, Facebook’s parent company will add support for USDT and USDC

May 9, 2025

Market

FT: MELANIA meme token insiders have made over $150 million including presale

An on-chain analysis revealed buyer activity minutes before the official launch announcement

May 6, 2025

Incidents

Vulnerability that allowed to issue tokens and withdraw them from users’ accounts has been fixed on the Solana network

Most validators implemented the necessary changes back in April

May 5, 2025