Israel says that cryptocurrencies are assets, not currencies

The central bank of Israel has said that cryptocurrencies are more of an asset than a currency.

Talking at a Knesset Finance Committee meeting, Bank of Israel Deputy Governor Nadine Baudot-Trajtenberg, said that "bitcoin and similar virtual currencies are not a currency, and are not considered foreign currency".

She explained that the Bank of Israel’s position is that virtual currencies should be viewed as a financial asset, "with all that this entails".

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