Israel proposes new regulations to protect investors and promote innovation in the digital asset industry
The Israeli Securities Authority proposes a framework for regulating digital assets as an increasing number of Israeli investors are exposed to digital assets, and over 150 companies operate in Israel, according to the regulator.in January 2023, outlining its purpose to achieve the “double value” of responding to the risks associated with investing in digital assets alongside giving the authority means to adopt a regulation.
It was further added that the definition of “digital assets” as a digital “representation” of value or rights used for financial investment. The document has opened the communications up for public comment until Feb. 12. It also seeks to establish a requirement for issuers of digital assets to publish a prospectus-like document before the issuance or registration of the assets for trading.
Areas to address the unique features of digital assets, such as the ability to use smart contracts and the potential for tokens to have multiple functions were also mentioned.
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