September 17, 2018
Cryptocurrency companies could be among those expanding their activity in Israel if a proposal to ease requirements for opening business accounts in the country is approved.
The Bank of Israel and Israel Tax Authority want feedback on plans to permit banks to accept solely signed declaration when opening accounts for public companies. This marks a departure from the usual process of considering a long list of potential warning signs. The move is part of regulatory moves “to ease the process of opening and managing a business account,” the Bank of Israel said in a statement Sept. 12.