It is a well-known fact that decentralized cryptocurrencies have rapidly spread around the world in recent years. As such, many countries want to control such digital currencies by introducing regulations for cryptocurrencies that are thought to be used in crimes such as money laundering. In fact, regulations regarding cryptocurrencies are frequently on the agenda in our country.
A move towards these currencies came from the USA in the past days. As we conveyed to you, President Joe Biden signed the cryptocurrency decree recently. This law, which determines the strategy of the USA on cryptocurrencies; Contrary to expectations, it contained positive items aimed at protecting the investor. In fact, this move had a positive effect on the markets, causing Bitcoin (BTC) to rise above $ 42 thousand again during the ongoing war. Now, a move has come from Israel on cryptocurrencies.
Central Bank of Israel issued crypto money directive
Incoming news showed that the Bank of Israel has prepared a draft directive that opens the country’s financial system to cryptocurrencies. According to the news of Coinkolik, Israel has made it mandatory for banks to examine companies that provide crypto services one by one and make decisions accordingly, instead of applying general refusal to investments. In the draft published by the central bank, it was noted that banking companies should implement risk assessments and set policies and procedures for the transfers of virtual currencies.
In addition, it was also included in the shared directive that banks should clarify the funds used to buy cryptocurrencies, and that all movements of such currencies should be monitored from the moment they are purchased to the moment they are deposited into an account. It was also among the news that this draft complies with anti-money laundering rules, which is one of the biggest concerns about cryptocurrencies.
Bitcoin (BTC) is going through very volatile days due to the ongoing war between Russia and Ukraine and the news. Although the leading cryptocurrency rose with Biden’s signing of the decree, it later declined again. Let’s also mention that at the time this news was written, Bitcoin was traded at $ 39 thousand 165. We will see over time how the decisions from the countries and the news from the worldwide crisis will affect the crypto money markets.
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