Team that includes representatives from the Bank of Israel has issued a formal request for information about DLT

A group that incorporates delegates from the Bank of Israel has issued a formal demand for data about Distributed Ledger Technology (DLT), distributed on its site December 18.

The call — the objective of which is, according to the title, the “Regulatory Coordination of Virtual Assets” — indicates that “the regulators of the Israeli financial system believe that there is room to renew and strengthen cooperation and coordination among all regulators and the public” with respect to DLT.

Other than the nation’s national bank, the group supposedly incorporates delegates from the nation’s Securities Authority, the Ministries of Finance and Justice, the Tax Authority, the Israel Money Laundering and Terror Financing Prohibition Authority and different other domestic administrative bodies.

The record requests data relating to hindrances to the advancement of the domestic DLT industry. The content asks expressly about issues experienced by regional DLT organizations, organizations raising funds, financial specialists and customers managing virtual resources as specimens.

Additionally, the demand asks about the dangers natural in the utilization of virtual resources and the prospects of DLT in the financial sector. Finally, the announcement additionally asks how DLT can assist in resolving issues related to Anti-Money Laundering (AML) and terrorism financing.

According to the announcement, interested individuals are welcome to submit pertinent data until Dec. 31, 2018.

Back in November, an Israeli exploration team investigating crypto currency alternatives has suggested that the nation’s central bank to avoid issuing its own digital currency.

Towards the start of December, Ehud Barak, a previous Israeli Prime Minister, likened cryptocurrencies to Ponzi schemes. He supposedly expressed that “he could never invest” in crypto as “Bitcoin and digital forms of money [are] a Ponzi plot.”

Also read: U.S. government could regulate crypto assets and tokens differently than stocks and traditional assets by altering the existing regulatory framework on securities

Source: https://www.cointrust.com/market-news/israel-inter-ministerial-team-calls-for-information-on-distributed-ledger-technology