Israel is likely to recognize Bitcoin as a Currency

The Government of Israel received a bill from the political party Yisrael Beiteinu, which aims to recognize Bitcoin as a currency.

The authors of the law claim that the regulatory policy in Israel is not at all adapted to the reality in this area, because each sale is classified as capital income and is a subject to capital gains tax.

The aim of the proposal is to add a section to the Income Tax Decree according to which the cryptocurrencies are classified as distributed digital currencies.

MK Oded Forer, as one of the authors of the proposal, said:

Source: https://ccnews24.net/israel-wants-to-recognize-bitcoin-as-a-currency/

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Matej Korený

We are building DeFi 2.0 / Internet 2.0 / Web 4.0 | Digital Economy | Crypto | Blockchain | FinTech | CMO at CoDeTech, Core Blockchain