07/08/19 09:15 UTC-4

Bitcoin Israeli investors cannot pay taxes

Taxes on cryptocurrencies in Israel
Taxes on cryptocurrencies in Israel

On August 6, Haaretz, the Israeli newspaper, reported that BTC investors in Israel cannot pay taxes because banks do not accept deposits received from cryptocurrencies. 


Cryptocurrency taxes in Israel

Bitcoin is not recognized as a currency in Israel, as banks are concerned about the risks of money laundering and terrorist financing through cryptocurrencies. Therefore, individuals are required to pay the state 25% of the capital gains tax, and legal entities – income tax at a rate of 47%.

Thus, a vicious circle is formed: residents of the country must pay their obligations to the state, but they cannot do this because of the caution of financial institutions.

Also, news on cryptocurrency reports that, according to authorities, Israeli investors have not paid taxes on income from cryptocurrency tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
in the amount of more than 300 million shekels (more than $85.7 million). However, it is possible that the real amount may be much larger.

In Israel, investors have no way to pay taxes on trade income with cryptocurrency. Recall that studies in 2019 showed that Bitcoin miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
consumes more electricity than the population of Israel and Switzerland. Relevant data were provided by the analytical center of the University of Cambridge.

Editor: Pereyidenko Ihor

See also: "ABBC Coin cryptocurrency grew above 50% per day"

#Israel #investors #Bitcoin #taxes



16/08/19 07:00 UTC-4

A Wall Street analyst is confident in the growth of Bitcoin

Yesterday, August 15, a prominent Wall Street analyst and co-founder of Fundstrat Global Advisors financial agency, Tom Lee, said he was confident in the imminent increase in the value of digital gold. According to an interview at Fox Business, by the end of 2019, cryptocurrency could hit a new historic high.

13/08/19 07:49 UTC-4

Ethereum cryptocurrency will be at $1000: survey results

A few days ago, on August 10, Nick Patel, a well-known trader and author of the bestseller about altcoins, conducted a social poll on his Twitter, which concerned the value of the second cryptocurrency by capitalization level – Ethereum. The results showed that more than half of the respondents are sure that the coin rate will be above a thousand US dollars.

31/07/19 05:10 UTC-4

The US Senate held a hearing on regulatory cryptocurrency issues

Following the previous hearings in mid-July, on July 30, the US Senate Banking Committee on the regulatory framework for cryptocurrencies and blockchains held a hearing entitled "Study of the regulatory framework for digital currencies and blockchain."

Fiat money, funds