Israel plans to establish an international center ICO


One of the toughest Israeli critics of the crypto industry made unexpected statements about the crypto-currencies and the primary sales of tokens (ICO). Professor Shmuel Hauser, completing his term as Chairman of the Israeli Securities Agency, said the need to establish an international financial center ICO in the country.

In his final speech at the Conference of Israeli corporations, Hauser spoke about the difficulties that the regulatory body will face.

“We will have to ensure order in the market. Some countries have decided to consider digital tokens individually. Some countries favor a complete ban. We intend to figure out whether it’s money or a hybrid, a new mutation of binary options, ” the professor said.

In September, the Agency for Securities of Israel established a committee to study the possibilities of regulating crypto and ICO. It is planned that specialists will present the results of their work by the end of December.

Hauser, who previously suggested that the ICO industry may be a “bubble”, also noted that regulators need to provide a favorable environment for the development of digital currencies and ICO.

“Perhaps you need to take the liberty to start the development of the international financial center ICO”, – said the chairman of the Agency for Securities of Israel.

He stressed that the regulatory concept should include a certain proportion of paternalism, which hinders the negative direction of development of this sphere.

Israel has established itself as one of the key players in the ICO market and blockchain technologies. The country even has the status of a “nation of start-ups”. However, most of the 5 thousand launched hi-tech start-ups could not “mature”, suffocating under the pressure of local venture funds, leaving a very short period of time for the project.

It is expected that the assistance of regulatory bodies will mark the emergence of at least 1 thousand ICO projects in 2018.

Earlier, the Israeli authorities announced the creation of a working group to study crypto-currencies.

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