Regulatory amendments in several popular jurisdictions in the gaming industry have prompted many companies to look for other alternatives. One of the destinations that is generating growing interest is Anjouan – a relatively...more
For years, the crypto industry has faced regulatory uncertainty, with the Securities and Exchange Commission (SEC) relying on “regulation by enforcement” rather than establishing specific rules for digital assets. Coinbase,...more
The Israel Securities Authority recently updated the amounts that an individual investor must have in order to be deemed a “Qualified investor.” This update applies solely to investors who are individuals and not to...more
The Israel Securities Authority published a position statement recently addressing various issues pertaining to brokerage activities and offerings of joint investment arrangements, including the applicability of the...more
The Israel Tax Authority and the Ministry of Finance have published a memorandum of law to regulate the digital asset sector in Israel. This memorandum recognizes digital assets for the first time as capital assets subject to...more
11/26/2024
/ Annual Reports ,
Capital Gains ,
Capital Gains Tax ,
Capital Markets Authority ,
Comptroller ,
Cryptoassets ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Foreign Currency ,
Israel ,
Policy Memorandums ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Oversight ,
Tax Authority
In October of this year, the Israel Securities Authority published a memorandum of law aimed at regulating broker-dealer activities in Israel. Public comments will be accepted until 21/11/24. At issue is an initiative that...more
The EU is continuing to shape the regulatory landscape in the crypto market After the Markets in Crypto-Assets Regulation (MiCA) entered into force in June 2024, a significant step took place last July with the publication of...more
11/12/2024
/ AML/CFT ,
Compliance ,
Cryptoassets ,
Cryptocurrency ,
EU ,
European Banking Authority (EBA) ,
FATF ,
Israel ,
Money Laundering ,
Regulatory Requirements ,
Travel Rule
Curaçao, renowned as one of the most popular jurisdictions in the online gaming industry, is launching a significant reform in its licensing and supervision of gaming companies. This reform is part of a broader legislative...more
The Tel Aviv District Court handed down an important ruling recently regulating the activities of entities distributing alternative investments in Israel. In many instances, the distribution activities are accompanied by...more
The Israel Securities Authority has published several additional revisions to the Israeli money market reform since the Knesset approved legislative amendments designed to promote competition in the money market, and since...more
The Knesset approved a series of legislative amendments this past July designed to promote competition in the money market – money market mutual funds, deposits and government bonds (short-term loans maturing in less than one...more
9/3/2024
/ Banking Sector ,
Conflicts of Interest ,
Disclosure Requirements ,
Investment Adviser ,
Investment Portfolios ,
Israel ,
Israel Securities Authority (ISA) ,
Money Market Funds ,
Mutual Funds ,
Professional License ,
Retail Investors ,
Tel Aviv Stock Exchange (TASE)
The international Financial Action Task Force (FATF) recently issued two announcements updating the list of countries and jurisdictions at high risk of money laundering, terrorist financing, and proliferation financing, and...more
In recent years, a new field called “prop trading” has emerged. It enables traders to trade financial products such as stocks, commodity bonds, cryptocurrencies, CFDs, and forex products without using their own money, but...more
7/22/2024
/ Capital Markets ,
CFTC ,
European Securities and Markets Authority (ESMA) ,
Forex ,
Investment Management ,
Investment Portfolios ,
Israel ,
Israel Securities Authority (ISA) ,
Proprietary Trading ,
Regulatory Authority ,
Trading Platforms
Non-EU or non-MiCA compliant entities that want to offer or provide crypto-asset services to clients in the EU must be aware of the newly drafted guidelines from the European Securities and Markets Authority (ESMA). The...more
The US Securities and Exchange Commission (SEC) recently approved the applications of 11 asset and investment management firms to launch exchange-traded funds (ETFs) that track bitcoin on the spot market. This event heralds...more
This past August, the US Securities and Exchange Commission took enforcement action against Impact Theory, a US media company that sold NFTs called “KeyNFTs.” It filed a second enforcement action shortly thereafter, against...more
The Israel Securities Authority recently promulgated its revised legislative proposal addressing the applicability of securities laws to digital assets. The proposed legislation aims to determine how securities laws will...more
A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more
8/7/2023
/ Crypto Exchanges ,
Cryptoassets ,
Digital Assets ,
Howey ,
Institutional Investors ,
Investment Contract ,
Investors ,
Popular ,
Retail Investors ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Token Sales
As part of the Arrangements Law for the years 2023-2024, the Israeli government makes extensive reference to expanding and creating a regulatory infrastructure in the digital assets field. As part of the draft bill (also...more
The Israel Securities Authority is proposing to apply the same laws to digital assets as apply to financial assets, which are under the ISA’s supervision. The legislative amendments include revisions to definitions of the...more
2022 was a turbulent year for the cryptocurrency sector, with one of the worst bear markets ever recorded and the collapse of several major cryptocurrency platforms. The breaking of Terra’s UST stablecoin peg caused a domino...more
Last August, the US Treasury Department sanctioned Torando Cash, a decentralized crypto mixing service. A month later, another US regulator, the CFTC, imposed a $250,000 fine on Ooki DAO, citing various regulatory violations,...more
The Israeli Capital Market, Insurance and Savings Authority (CMISA) recently published drafts of two important circulars regulating financial asset service providers, including provisions regarding protection of virtual...more
Institutional investors, corporations, exchanges, individuals, and crypto miners all have strong demand for crypto custody services, as provided by special market participants. These services intend to safeguard customers’...more
7/21/2022
/ Bitcoin Mining ,
Crypto Exchanges ,
Cryptocurrency ,
Custody ,
Digital Assets ,
EU ,
Financial Services Industry ,
Insolvency ,
Institutional Investors ,
Investment Advisers Act of 1940 ,
Investors ,
Israel ,
OCC ,
Proposed Regulation ,
Regulatory Authority
A few days ago, the SEC has charged a former employee of OpenSea (the largest NFT marketplace) In the first-ever digital asset indictment. SEC charged him with wire fraud and money laundering in connection with a scheme to...more