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Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700
30.7.2022
New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will...
Public Consultations Reveal Positive Interest in Bank of Israel’s Digital Shekel
14.5.2022
A survey carried out by the central bank of Israel has returned mostly positive responses from stakeholders regarding the possible issuance of a digital shekel currency. Many of the participants in the public consultations support the continued development of the project, the regulator said. Bank...
Bank of Israel: Adoption of CBDC Will Not Materially Affect the Banking System
5.3.2022
Israel’s central bank says the public’s adoption of the digital shekel is not expected “to materially affect the banking system.” The bank, however, warns that any issuance of such digital currency will likely result in a decline of the volume of the public’s...
Palestinians Ponder Digital Currency as Move for Monetary Independence
26.6.2021
The Palestine Monetary Authority is exploring the possibility of issuing its own digital currency. For Palestinians, the minting of a national coin would represent a step, at least a symbolic one, towards achieving monetary independence from the State of Israel. Digital Currency to Help...
Bank of Israel deputy governor confirms digital shekel pilot is underway
22.6.2021
Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyramid scam."
Bank of Israel Drafts Model of a Digital Shekel
13.5.2021
The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at...
Israel's central bank floats possible digital shekel with new action plan
11.5.2021
The bank has been exploring the introduction of a CBDC since 2017