The Israel Securities Authority, or the ISA, is working to create a new regulatory <a href="https://www.isa.gov.il/%D7%97%D7%A7%D7%99%D7%A7%D7%94%20%D7%95%D7%90%D7%9B%D7%99%D7%A4%D7%94/Legislation/Proposed%20Legislation/Suggestions/Documents/digital.pdf" target="_blank" rel="nofollow noopener">framework</a> for <a href="https://www.cryptoknowmics.com/news/forum3-raises-10m-to-bring-digital-assets-to-brands-loyalty-programs">digital assets</a> that mostly fall within its purview, which might provide the crypto sector more clarity on regulation.
<h2>ISA to Enhance Crypto Asset Regulation</h2>
According to the plan, the country's legal system would be changed to include digital assets within the current securities legislation, possibly categorizing most <a href="https://www.cryptoknowmics.com/news/banking-head-of-us-senate-indicates-outlawing-cryptocurrencies">cryptocurrencies</a> as financial investments subject to ISA control. The amendments would add digital assets to the category of financial products in <a href="https://www.cryptoknowmics.com/news/israeli-court-rules-officials-can-seize-crypto-in-150-blacklisted-wallets">Israeli</a> securities legislation and describe them as digital information of value utilized for financial investment and can be exchanged via a distributed ledger.

According to the agency, this initiative aims to safeguard investors while simultaneously enabling the special benefits of cryptocurrencies. The ISA claims that while existing securities rules can already govern some activities involving digital assets, the requirements may be challenging to implement in their current form.
<h2>Developments in Technology</h2>
The plan from the authority is out for public consultation until February 12 and stipulates a six-month waiting period before it would take full effect following approval. The ISA has also made an effort to remember that the rules need to be adaptable to take into account developments in the technology that underlies digital assets.

The ISA's chairperson, Anat Guetta, has made it abundantly clear that she doesn't perceive much of a difference between cryptocurrencies and securities, following the lead of <a href="https://www.cryptoknowmics.com/news/sec-chair-gary-gensler-plans-to-give-cftc-more-control-over-crypto">Gary Gensler</a>, the chairman of the <a href="https://www.cryptoknowmics.com/news/sec-identifies-ftx-exchanges-ftt-token-as-a-security">U.S. Securities and Exchange Commission</a>.

ISA Takes Action to Improve Crypto Asset Regulation

ISA is working to create a new regulatory framework for digital assets, which might provide the crypto sector more clarity on regulation.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

ISA Takes Action to Improve Crypto Asset Regulation

Top Picks