Should people be free to commit their bitcoin as they see fit, accepting the dangers upon themselves as responsible adults, or if the nanny state protect them like children from all potential losses while also stifling innovation? That is what is at stake right now in Israel as labs are debating the best way to approach the challenges of cryptocurrency and the ICO phenomena.
Luckily for both Israeli entrepreneurs and ICO investors equally, the reports in the country that a comprehensive ban is coming are premature and greatly exaggerated. Compared to the unnamed sources mentioned as reference to the ban, news.bitcoin.com spoke with a person known to be very near the issue and eager to come out openly to encourage ICOs.
The committees are analyzing the matter and I’m sure in the end we’ll have friendly regulations, similar to the situation in Switzerland.”
Hogeg met with the Israeli finance ministry last month to market the issues of blockchain and cryptocurrencies and is an invited guest in the committees.
Israeli entrepreneurs, already a prominent group on the ICO scene, are actually gearing up to establish an amazing number of guards following calendar year.
Talking at Jeff Pulver’s “Startup Nation into Crypto Nation” event in Tel Aviv this season, Bancor co-founder Guy Benartzi stated he anticipates a million ICOs to come from Israel in 2018. This is from an anticipated 10,000 projects internationally, based on Benartzi whose ICO increased $153 million at a just couple of hours this June.
The event of Bancor really places an example of the Israeli jobs can succeed in their own crowdfunding attempts irrespective of the legal position in the nation. Even though the R&D is located in Tel Aviv, the provider is officially domiciled in Switzerland. This may assist the regulators know that they can not halt the ICO happenings and may also cultivate it to favorable instructions.