Israel

On Monday, February 19, the Israel Tax Authority released a professional circular describing the country’s tax policy on cryptocurrency trading, especially Bitcoin. The government institution explained that any cryptocurrency should be regarded as an asset, rather than currency.

Cryptocurrency is quite a controversial industry. While some eagerly accept its disruptive potential for the entire financial sector, some (mostly, governments as they can’t regulate it) look quite suspiciously at it or even try to ban it. But how can you ban something you can’t control?

To safeguard itself against Israel interference, Palestine Monetary Authority consider creation of local digital currency within 5 years.