The Central Bank of Israel considers bitcoin an asset, not a currency

The Deputy Governor of the Bank of Israel Nadine Baudot-Trajtenberg (Nadine Baudot-Trajtenberg), speaking at a meeting of the Finance Committee of the Knesset, said that in the opinion of the Central Bank of Israel, crypto-currencies, including bitcoin are the currency and asset.

«The position of the Bank of Israel is that bitcoin and similar virtual currencies should not be viewed as foreign currency but as an asset,» said Nadine Baudot-Trajtenberg.

In her speech, she also reminded investors that the virtual currency is based on private initiatives, they are not official bodies of banks or the government. Therefore, they are prone to high volatility and there is a high probability of total loss of the nominal value of any cryptocurrency.

Including the official did not miss the opportunity to mention that cryptocurrencies have a high level of anonymity that can be used for criminal purposes, e.g. money laundering or financing of terrorism.

However, Bodo-Trajtenberg believes that, at this stage of the world practice a little than can help in the regulation of cryptocurrencies as yet no single regulator was not able to formulate guidelines in this area.

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