The document aims at regulatory coordination of digital assets
On December 18, 2018, Israel’s Central Bank published on its website an official request for information on Distributed Ledger Technology (DLT).
The request is created by a team that reportedly includes representatives from the Bank of Israel, as well as from the country’s Ministries of Finance and Justice, the Securities Authority, the Israel Money Laundering and Terror Financing Prohibition Authority, the Tax Authority, and some other Israeli regulatory bodies.
The document aims at regulatory coordination of virtual assets. Using information on the current state of DLT, the regulators of the Israeli financial system are planning to renovate and intensify cooperation and coordination among regulators and the public.
The request inquires for information related to barriers in the development of the local DLT industry. The text also asks about challenges and risks which local DLT companies, fundraisers, investors and customers working with digital assets and similar things face with. Furthermore, the document asks about the opportunities of DLT in the finance industry and requests how DLT can help in solving problems in the field of Anti-Money Laundering and terrorism financing.
According to the statement, all interested parties are invited to submit relevant information until December 31, 2018.
Author: Helen Darkhouse