News Column

The Interministerial Team on Decentralized Virtual Currencies

August 11, 2014

JERUSALEM, Aug. 11 -- The Bank of Israel issued the following news release:

Further to the notice published regarding the potential risks inherent in decentralized virtual currencies, an interministerial team dealing with the issue recently began operating. The team is led by the Director of the Bank of Israel Research Department, Prof. Nathan Sussman. Members of the team include representatives of the Bank of Israel, the Ministry of Finance, the Ministry of Justice, the Israel Securities Authority, the Israel Tax Authority, the Israel Money Laundering and Terrorism Financing Prohibition Authority, and the National Economic Council. The team will discuss a variety of issues connected with decentralized virtual currencies such as Bitcoin. At its most recent meeting, the team heard reviews from a number of parties in the private sector who are operating in the field.

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Source: Targeted News Service

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