– The Israeli government forms a special examination team to regulate decentralized governance organizations (DAOs)
– The team aims to assess the use of crypto tokens within DAOs and evaluate associated risks
– They seek to develop a regulatory framework balancing innovation and stakeholder protection
– Public input on DAO regulations will be sought until September
– DAOs utilize blockchain technology and native crypto tokens for decision-making processes
– This move is part of broader efforts to establish robust regulations for the crypto industry in Israel
– Lawmakers have supported axing capital gains taxes for foreign crypto investors to attract international investments
– Israel has previously seized millions of dollars worth of cryptocurrency believed to finance militant groups like Hamas.
The Israeli government has established a special team to regulate decentralized governance organizations (DAOs) and assess the use of cryptocurrencies within these entities. Led by the Chief Economist at the Ministry of Finance and the Head of the Corporations and Capital Market Cluster at the Ministry of Justice, the team aims to develop a regulatory framework that balances innovation and stakeholder protection. The government will also seek public input on DAO regulations. This move is part of Israel’s broader effort to establish robust regulations for the crypto industry, including the recent support for axing capital gains taxes for foreign crypto investors. Additionally, Israel has been confiscating cryptocurrency believed to be used for financing militant groups, such as Hamas.
This is sponsored by: Learn Bitcoin Option