Digital assets will soon be accessible to more Israelis following the endowment of the first capital markets license to a local exchange, whose eyes are set on launching a digital wallet.
Israel is slowly embracing digital assets, issuing its first-ever permanent 'crypto' license to a native firm, in line with its plan to explore and adopt a CBDC that will promote financial inclusion.
Businesses can spend a maximum of 6,000 shekels (or $1,760) in cash payments, while individuals can spend a maximum of 15,000 shekels (or $4,400), according to a news report.
The company cites the current market conditions as one of the reasons for the move; the layoffs will affect around 100 employees, with 55 of them from eToro operations in Israel.
Bank of Israel partnered with the Hong Kong Monetary Authority and the Bank for International Settlements to test the feasibility of a digital shekel for retail use.
Unbounded Capital co-founder Zach Resnick joins the latest episode of the CoinGeek Weekly Livestream to talk about his experience in trading and managing people's money that led him to investing.
The public said that a digital shekel would reduce reliance on cash and advance the fintech industry, but the BOI has still not decided whether it will issue the CBDC.
The central bank’s guidelines will potentially open up the banking system to the nascent sector, with banks not allowed to issue sweeping refusals to VASPs.
According to the country’s Defense Ministry, the seizure has dealt a big blow to the group which has turned to digital assets as Israeli authorities continue to crack down on the group’s funding channels.
Governor Amir Yaron considers central bank digital currencies are the future of finance and will give central banks an effective monetary policy tool as the payments paradigm shifts.
News reports have emerged that solidify arrest rumors surrounding Celsius Network CFO Yarom Shalem in Tel Aviv, allegedly in relation to investor fraud worth tens of millions of U.S. dollars.