Isreal regulators have proposed the idea of calling Cryptocurrencies securities. This could cause a big shock to prices and would harm the industry. The proposal basically states that the Isreali government would like to put digital assets under the supervision of the Israel Securities Authority (ISA).
“You cannot classify all the digital assets as securities because it will kill the industry.” – Ilan Sterk, the CEO of Altshuler Shaham Horizon.
The ISA would like to regulate the investments of Crypto, and to put sanctions for any rules broken.
The only upside to this proposal was Isreal offering licenses to those firms who already has licenses abroad.