Hybrid Bridge Holdings has become the first company to receive a perpetual license from Israel’s Capital Markets Authority to engage in crypto-related business activities.
In February, global crypto exchange Binance came under regulatory scrutiny over licensing issues. The Israel Securities and Exchange Authority had told Binance to suspend marketing and cease all activities focused on Israel until the issues were resolved. It is stated that many companies looking to enter the crypto industry are still in the process of obtaining regulatory approval.
Perpetual License to Hybrid Bridge from Israel Market Regulator
According to local news agency Globes, the Israeli Capital Markets, Insurance and Savings Authority has granted a permanent license to private company Hybrid Bridge Holdings, which will engage in crypto activities for the first time.
It is unclear what kind of crypto services the private Israel-based company, founded in 2021, plans to offer. However, it did have an active license in the country as a financial services provider.
Recently, Israeli authorities have restricted cash payments to combat illegal activities in the country and promote digital payments. Crypto adoption in Israel is increasing day by day with new agreements and practices.
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