January 22, 2024

On January 17, 2018, the Israeli Tax Authority published Circular No. 5/2018 regarding the taxation of activities in Decentralized payment method (hereinafter: ‘the Circular’). According to the Circular, the Tax Authority’s position is that cryptocurrency should be considered an asset for tax purposes and not as a currency. This implies that when realizing cryptocurrency, the […]

As we enter 2024, two significant regulatory procedures concerning cryptocurrencies are anticipated to be released. The first is a regulation framework for accepting tax payments derived from cryptocurrencies and virtual currencies. This aims to resolve existing challenges faced by banks when processing tax payments sourced from virtual currencies. The second initiative is a voluntary disclosure