According to local news agencies, Israel has adopted new regulations for the cryptocurrency industry aimed at combatting illegal activities such as money laundering and terrorism financing. The new Anti-Money Laundering (AML) regulations require local Fintech companies and virtual currency service providers (VASPs) to obtain an operating licence from the Israel Securities Authority (ISA). A representative of the Israel Money Laundering and Terror Financing Prohibition Authority explained that the new AML rules should help the country to reduce criminal usage of digital assets and provide support and legitimacy to the industry. The ISA is reportedly already reviewing licensing applications from a number of VASPs.
CH-019383 (Webpage Portal) 2021-11-17 (Published) 2021-11-23 (Updated)