Israel enacts fresh crypto rules to combat laundering, terror funding activities
Israel has had a hard time accepting the growth of the blockchain and cryptocurrency industry, with many burdensome regulations keeping companies in limbo. The nation already has strict anti-money laundering and tax regulations that crypto companies and investors are subjected to. Now, the country has introduced a new set of regulations on cryptocurrencies to combat terror funding.
According to local reports, Israel’s Authority for Combating Terror Financing and Money Laundering has increased regulatory oversight on not just cryptocurrencies, but also fintech companies and credit providers. The watchdog’s director, Shlomit Wegman, believes these new rules will be helpful in systematically combating criminal usage of digital assets while also
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