Israel’s Leumi Bank in partnership with Paxos wants to allow trading of cryptocurrencies, initially Bitcoin and Ethereum.
Bank Leumi Israel’s second-largest bank, considered the second-largest bank in Israel, will begin offering cryptocurrency trading through its digital digital technologies are these electronic tools that have the ability to generate, store or even process data. platform. Pepper Invest, according to a report by Reuters .
The bank will offer this service in partnership with the trading and custodial custodial cryptocurrency businesses are the ones that are in possession of their customers’ funds for the duration of the use of their services. platform a place to buy, sell and store cryptocurrency Paxos based in New York, and will – if approved – be the first Israeli bank to offer cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. trading services to its customers.
Customers will be able to buy, hold and sell Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) yEther the form of payment used in the operation of the distribution application platform, Ethereum. (ETH) inicialmente en transacciones a partir de 50 shekels (equivalentes a 15,49 dólares). Por ahora, son solo estas criptomonedas, aunque quizás puede haber algunas más en el futuro, dijeron algunos medios.
A start date has not been provided, and the measure is subject to regulatory approval So it is not yet possible to claim victory.
“Pepper will collect taxes in accordance with Israel Tax Authority guidelines so that customers do not have to manage the complexities of taxation.” the bank said in a statement.
Regulatory approval required
Few other details are available, but more information is expected in the coming weeks. Regulatory approval will be key, but Israeli authorities are somewhat strict about the cryptomarket, says Beincrypto. In fact, Binance has halted operations in the country following a request from the country’s financial regulator.
However, it is worth noting that the country is working on clear legislation that will attract crypto businesses . This was reported in February by the head of the Israel Securities Authority, Anat Guetta.
The country is also keen to ensure that cryptocurrencies are not used for illicit purposes, and Israel’s defense minister confiscated starting this March 30 cryptocurrency accounts linked to terrorist groups .
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