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Tag: Israel

Israel’s Tax Authority is Using Social Media to Track Down Bitcoin Tax Evaders

Category: Altcoins, Bitcoin, Finance, News, Regulation

Israel’s Tax Authority is Using Social Media to Track Down Bitcoin Tax Evaders

It is known that Israeli bitcoiners are required by law to pay a 25 percent capital gains tax while crypto-related businesses must compulsorily send their 25 percent tax plus another 17 percent VAT to the authorities. However, since the bill became law, quite a few people and businesses in Israel’s digital currency ecosystem have failed to remit their taxes. Now,…

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Bitcoin Miners Drag Israeli Union Bank to Court for Denial of Banking Service

Category: Altcoins, Bitcoin, Business, Finance, Mining, News, Regulation

Bitcoin Miners Drag Israeli Union Bank to Court for Denial of Banking Service

Despite the somewhat unfriendly nature of the Israeli crypto space, digital currency-related firms have refused to leave the state to more welcoming regions. Now, the sixth largest bank in Israel has been sued by a local cryptocurrency mining firm, Israminers Ltd for denial of banking service. Let the Courts Decide Of a truth, every business in Israel has the right…

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Israeli Tax Authority: ICO Organizers and Contributors Will Soon Start Paying Taxes

Category: Altcoins, Bitcoin, Commentary, News, Regulation

Israeli Tax Authority: ICO Organizers and Contributors Will Soon Start Paying Taxes

Since the newly found ubiquity of bitcoin and altcoins, Initial Coin Offerings (ICOs) have become a viable tool for startups to raise considerable amounts of money to strengthen their business. Increasing Transparency and National Revenue Due to the widely unregulated nature of the ICO ecosystem, it’s no longer news that China has since placed a ban on ICO operations in…

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Banks Can Legally Deny Services to Bitcoin Companies in Israel

Category: Bitcoin, News, Regulation

Banks Can Legally Deny Services to Bitcoin Companies in Israel

On June 6, the Tel Aviv district court announced its official ruling on the dispute between Israeli bitcoin exchange Bits of Gold and the country’s second largest financial institution Bank Leumi. The court ruled in favor of Bank Leumi, dismissing the case of Bits of Gold and the denial of banking services for bitcoin startups and service providers in the…

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Bitcoin May Become the Main Currency for Palestinians

Category: Bitcoin, Commentary, News, Tech

Bitcoin May Become the Main Currency for Palestinians

Bitcoin or a ‘Palestinian Pound,’ a digital currency inspired by Satoshi Nakamoto’s innovation, could potentially be used to propel the independence and financial sovereignty of Palestine, as Azzam Shawwa announced at a European Bank for Reconstruction and Development meeting over May 9-11. The unstable political and socio-economic situation in the Middle East has been a hindrance to the empowerment of…

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