The Chairman of the securities Commission of Israel (ISA) Professor Shmuel Hauser stated the necessity of creating an international financial center ICO. On the eve of the conference Israeli corporations, Hauser also discussed with participants the main challenges still faced by the regulating authority.
«Some countries have decided to consider digital currency, in each case, others prohibit its use. With the team headed by chief economist and head of ISA, we will look at these options and decide – is the money or a substitute for money, and is it safe», – he said.
«The team is expected to submit its report by the end of December. We will also consider amendments to the legislative framework for the extension of oversight of fraud in the area of ICO,» – said Hauser.
According to him, the topic of digital currencies and the ICO should have «a favorable regulatory in nature may be so bold to give a chance to develop an international financial centre ICO».
However, the Professor added that the regulatory framework will have to demonstrate a certain degree of paternalism, to ensure that ICO will not grow in areas that it deems negative.