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Digital Asset Exchange Platform Granted “Crypto Financial Services Provider License” By Israeli Regulator – Regulation Bitcoin News

The Insurance Savings and Capital Markets Authority, Israel’s capital markets regulator, recently granted Bits of Gold a “Cryptocurrency Financial Services Provider License.” The license will allow Bits of Gold to offer cryptocurrency custodian services and store funds for retail customers.

Changes to Israeli law

Israel’s capital markets regulator, the Insurance Savings and Capital Markets Authority (ISACA), recently granted Bits of Gold a “virtual currency financial services provider license,” according to the statement. The license will allow the crypto exchange platform to “offer custodian services” as well as “allow retail customers to safely store and insure their funds” via a wallet application launching in October. to

According to a statement, Bits of Gold was finally licensed by regulators after waiting nearly five years. A 2016 legislative change allowed ISACA to issue operating licenses to cryptocurrency entities.

In a post-announcement statement, Youval Rouach, CEO of Bits of Gold, said:

Our technology makes it easy for banks and financial institutions to connect to what cryptocurrencies have to offer their clients. Bits of Gold Connect is an exciting development that we have been working on for his two years. It allows European and Israeli banks, fintech companies and financial institutions to connect to established infrastructures and offer diverse crypto solutions to their clients. Simply put, it is an easy and secure way to buy, sell and hold cryptocurrencies. and regulated methods.

Bits of Gold held a “Currency Service Provider” license since 2013 prior to being granted a license issued by ISACA. However, in 2018, this permit was changed to a “business continuity” permit. license.

Meanwhile, Bits of Gold said in a statement that the license issued by ISACA and the “recent order of the Bank of Israel” will allow the crypto exchange platform to solve banking problems that Israeli crypto holders have encountered for years. claimed.

What are your thoughts on this story? Let us know what you think in the comments section below.

Terrence Jimwala

Terence Zimwara is an award-winning journalist, author and writer from Zimbabwe. He has written extensively on the economic problems of several African countries and how digital currencies can provide an escape route for Africans.







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Digital Asset Exchange Platform Granted “Crypto Financial Services Provider License” By Israeli Regulator – Regulation Bitcoin News

Source link Digital Asset Exchange Platform Granted “Crypto Financial Services Provider License” By Israeli Regulator – Regulation Bitcoin News

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