The Currency Analytics
By Julie Binoche
Several proponents in the cryptocurrency space have been focusing on making Bitcoin as a mainstream payment system, improving adoption and acceptance.
Several investors across the world consider cryptocurrency as a larger asset type, while several others consider it to be a speculative asset.
Israel recently commented on Bitcoin. The apex court of Israel stated that cryptocurrency was an asset and not a currency.
Judge Shmuel Bornstein stated, recently stated, “The Central District Court in Lod accepted the tax authority’s interpretation, and held that Bitcoin is an asset and not a…
The clingy thing about the decision is that Bitcoin becomes taxable, thereby making it fall directly under the control of the regulatory norms of the financial authorities of the…
According to an Israeli law firm, “The ruling is a signal to all those who have yet to report cryptocurrency-related profits or based their actions on differing legal advice ……
Ever since 2018, Isreal has been keeping a very firm eye on the activities around cryptocurrency.
With improved global connectedness, it has become important to send money from one person to another, in between banks, and between countries.
With cryptocurrency transactions, the Bitcoin transactional fee is very cheap when compared to traditional methods.
Cross-border payment solutions are one major area where Bitcoin and other cryptocurrencies can be of great help.