While some countries proceed to search for a way to get something out of elusive cryptocurrencies, Israel prefers to wait it out until someone else makes a step forward.
As usual, everybody knows that coin is out there but no action is taken to legalize it or somehow disprove its right to be used as a currency. Israel on the other hand may go a different way. They do not plan to overlook the situation with digital currency, quite the opposite they are watching closely what the other boys in the sandbox will do.
However, the concern is beginning to grow and as with other countries, the part that gives government its headache is taxes. Of course they have laws regarding the money laundering that could be enforced upon the crypto transactions, but it seems like as an excessive move.
Attorney, who works on banking cases, Shiri Shaham, has her own opinion on bitcoin and its successors. According to her, digital currencies can neither be ignored nor prevented. As with any questionable thing, there must be some kind of regulation, but the complete prevention of crypto trade would be futile:
“People who want to get their hands on bitcoin will always succeed, and it would be a pity if it were to occur in the shadows and not under the supervision of the banking system.”
Main problem with all of these statements, made by countries officials, attorneys, politicians etc. is that they do not tell anything new. Only China and India did try imposing something, other are still waiting for a better moment. Don’t get me wrong, I like the free spirit of digital coins but there are issues that need to be addressed.
Let’s just hope that it won’t come to the day when due to the lack of relation Bitcoin will lead to some unpleasant results which would put into the list of things illegal.