One of the financial regulators israelis has commented on the surprisingly positive regarding the adoption of the ICO and crypto-currencies. The president of the ISA (Israel Securities Authority, Shmuel Hauser, laid emphasis on the need to promote the creation of an international financial center based on ICO.
He said the main challenges the regulator is facing. They will have to analyze the market. Many countries have decided to examine the crypto-currency on a case-by-case basis. Some have prohibited. They decided to explore the potential of this technology, with a team of experts and specialized companies in the field, he explained.
Israel decides to analyze the market of crypto-currencies
The initiative of this regulator is quite encouraging. In fact, experts will examine the evolution of the market of crypto-currencies with a view to putting in place a regulatory framework. The team is expected to submit its report by the end of the month of December, said Mr Hauser. They will have to consider extending the monitoring of digital currencies and define an appropriate regulation, he added.
Check out below a video explaining the phenomenon of the ICO :
Mr. Hauser stated that the crypto-currencies and the ICO should benefit from a favourable regulatory framework. This will also develop an international financial center based on ICO.
Israel wants to become the country of the ICO
Politicians and senior leaders of the country sale often be the nation where start-ups can develop. It is estimated that approximately 5 000 start-ups operating in Israel. Most of them do not reach maturity because of the law that forced them to stop their activity quickly. The government could help fill this gap.
If the regulators were taking a step back and reduce the crackdowns against the digital currency in Israel, it is expected that a thousand ICO could be launched in the country in 2018, has confirmed Mr. Hauser.
Source : NewsBitcoin