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Israel’s Central Bank Issues Request for Information on DLT

A team that includes representatives from the Bank of Israel has issued a formal request for information about Distributed Ledger Technology (DLT), published on its website Dec. 18.

The request — the goal of which is, as per the title, the “Regulatory Coordination of Virtual Assets”— states 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” regarding DLT.

The document asks for information pertaining to barriers to the development of the local DLT industry. The text inquires explicitly about problems encountered by local DLT companies, fundraisers, investors and consumers dealing with virtual assets as examples.

 

Moreover, the request inquires about the risks inherent in the use of virtual assets and the opportunities of DLT in the finance industry. Lastly, the statement also asks how DLT can help address issues regarding Anti-Money Laundering (AML) and terrorism financing.

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