Bank of Israel allowed crediting profits generated from cryptocurrency activities
The relevant directive has already been prepared and sent to local banks
05.01.2022 - 09:00
257
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.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024