Israel crypto industry pushes regulatory changes amid strong public support
Summary
Reforming Israel's digital asset regulations could create 70,000 jobs and boost the nation's GDP by $38 billion, as reported by KPMG. This potential growth highlights the significant impact of regulatory changes on the economy.
Key Insights
What economic benefits does KPMG project from reforming Israel's digital asset regulations?
KPMG reports that reforming Israel's digital asset regulations could create 70,000 jobs and boost the nation's GDP by $38 billion, highlighting the substantial economic impact of supportive regulatory changes.
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Why do Israeli banks often refuse deposits from cryptocurrency transactions?
Israeli banks frequently refuse deposits from cryptocurrency transactions due to concerns about money laundering, terrorism financing, and difficulties in tracking funds, prompting regulatory workarounds like direct tax payments to the Tax Authority.
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