Israeli gov’t seeks to track crypto holdings above $61K
Cointelegraph
Published Jul 29, 2021 05:29AM ET
Updated Jul 29, 2021 07:00AM ET
The Israeli government is ratcheting up its efforts to deter tax evasion and close loopholes for would-be money launderers as part of a “war against black capital.” Among the measures outlined in a new draft bill published by the Ministry of Finance this week, a new statutory requirement is being proposed to place cryptocurrency users under increased scrutiny.
The proposed law would make it mandatory for cryptocurrency users who have either purchased 200,000 Israeli shekels ($61,000) worth of cryptocurrency or whose crypto holdings are currently worth the same amount and above to file a report with the Israeli tax authorities.
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Written By: Cointelegraph
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