The Israeli Ministry of Finance and the Bank of Israel are looking into a possible future creation of an official Israeli state cryptocurrency, according to three government officials interviewed by Calcalist on conditions of anonymity Sunday. Israel’s interest in promoting a virtual coin is part of an effort to decrease the country’s dependency on cash transactions, which increase the risk of money laundering and tax evasion offenses, these officials said.
According to these officials, the Israeli Ministry of Finance is reviewing a possible addition of a clause creating a legal framework for the use of an official state cryptocurrency in the country to a law set to be submitted to the Israeli government in January for approval. The clause is expected to state that the Ministry will test the feasibility of creating and promoting such a coin for use in Israel
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