Israel Might Finally Issue Clear Bitcoin Regulations

Ambiguity can be dreadfully annoying when it comes to matters of law. Such is the case of bitcoin use in Israel, where citizens have yet to receive any official word on the subject. Soon, however, this issue might finally be resolved.

On Tuesday it was announced that the Israeli Ministry of Finance will establish a working team on digital currencies together with the heads of the big accounting firms and relevant professional chambers.

This was decided at a meeting initiated by Finance Minister Moshe Kahlon with the same bodies, where they acknowledged that Israel has not prepared well enough to handle the issue of digital currencies so far.

One of the people who has been pushing for this is Israeli serial entrepreneur (and vocal bitcoin advocate) Moshe Hogeg. He met with the finance minister last month to promote the issues of blockchain and cryptocurrencies.

Speaking today with, Hogeg said: “We are leading this with the minister and very happy to see he is all for it.” As for a potential timetable, he added: “The committees will begin their operations very fast. In my opinion, we will see results on the ground in up to six months.” […]

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