Topic: What do you think about this? Israel may issue a clear regulation of the bitcoin (Read 210 times)

 Is it even possible to control something decentrelized and fully anomymous? Sure, government can make it illegal. But without regular searches they have no possibilitiy to recognize the person who is breaking their law. And if it will become fully illegal everywhere then crypto users can just refuse fiat money and use crypto to pay. And if government want to ban crypto then they will have to cut off the Internet in their country. I mean how can they control it if they will never know who is using it and who is keeping in?

 We can talk a lot about good and bad sides of cryptocurrency. But let's talk about the thing that depends on this good and bad sides. About the control. Does cryrptocurrency should be controlled or not? Because all we know and understand that there is two sides of one coin and independence that crypto brings might be either good and bad. Because it's not a secret that some people are using it to buy drugs, weapons, stolen things and assasinations., using it for money laundering. So here is the question: if such actions exist so should we control crypto and refuse its anonymity?

Would be positive, even if Israel is more or less a small nation, but of course depends on the terms. But even strict regulations are better than uncertainty, for most people, unless it becomes too strict that works almost as a ban.

I hope the Arabic countries don't start to hate BTC because of Israel

       On Tuesday, Israel's finance ministry announced that it would work with large accounting firms and the heads of major accounting firms to create an encrypted currency working group. It was decided at a meeting sponsored by Moshe Kahlon, the finance minister. They acknowledge that Israel has yet to deal with the issue of digital money. Moshe Hogeg, the entrepreneur who has been pushing the project, met finance minister last month, hoping to bring new progress to the blockchain and cryptocurrency.



       Today, Hogeg told news.Bitcoin.com: "the commission will begin their actions and we will see the results in the next six months."


      As noted above, there is no official regulation of bitcoin, and Israeli users and businesses face a lot of trouble.
In June, the tel aviv district court ruled that Banks could refuse to invest in risky investments in bitcoins, such as when Banks could not prove their KYC and AML in front of the law. Earlier this year, Israel's tax authorities decided that if bitcoin were not legally defined as a currency, its sales would be affected by tax issues.
Whatever the advice, the Israeli authorities seem not to be very supportive. It is understood that at least one senior Israeli official is concerned about the potential dangers of cryptocurrency. Professor Shmuel Hauser, chairman of the Israel securities authority (ISA), has said that regulators need to adopt "paternalistic" attitudes to deal with ICO and bitcoins. Since then, ISA has established its own commission to assess Israeli regulations.