Regulations taking effect in Israel: ISA proposes sandbox approved ICOs
|- The sandbox approach to give cryptocurrency startups in Israel a grace period to test their products.
- The startups will have permission to advertise on the internet and submit a shorted white paper.
The Israel Securities Authority (ISA) has announced through its chairwoman, Anat Guetta that it is considering a new approach to digital asset regulation. The regulator proposes that the process integrates a sandbox. The cryptocurrency startups in the country will have a relatively easy environment in which to test their products.
The statement from the ISA said that “…examining the establishment of a regulatory environment that makes it easier for companies that use new technology to supply financial products and services. It is possible that this may also be relevant to companies that issue distributed cryptographic coins.”
The ISA set up a committee made up of consultants and lawyers to come up with the most suitable approach to be used to regulate ICOs. The committee later decided after deliberations to incorporate the approach from the US Securities and Exchange Commission (SEC) and regulatory the sandbox. During the sandbox stage, the regulator will allow the startups to test their products, enjoy less stringent measures, advertise on the internet (not currently allowed) and have the opportunity to submit a summarized white paper.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.