Sirin Labs, Stox and Leadcoin raised over $250 million in their respective token sales, but according to the employees, the operators directed the funds to their own personal expenses.
The Bank of Israel is reported to be working alongside other central banks to prepare for an eventual launch, though has yet to commit to formally introducing a digital shekel.
The Tax Authority has been reportedly sending inquiries to local and global exchanges, pressuring them to divulge information about Israeli digital currency owners.
The attack was carried out by a sophisticated team of hackers that may have been state-sponsored, according to local media reports.
Under the existing Israeli laws, digital currencies are considered assets and therefore, their sale or conversion attracts a 25% capital gains tax.
The Tel Aviv Stock Exchange plans to launch the Central Blockchain Securities Lending Platform on November 2, 2020.
The attorney general of Israel has said that the country’s banks cannot institute a blanket ban on serving cryptocurrency companies.
Authorities in Belgium, France and Israel have arrested ten people accused of orchestrating a cryptocurrency pyramid scheme that cost investors $6.6 million.
The Israeli Capital Market Authority is seeking to make changes to its licensing regime in order to encourage competition and grow the country’s fintech industry.