RATE Group | Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure
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Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure

19 Aug Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure

Posted at 23:15h in Bitcoin News by

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The Capital Market, Insurance and Saving Authority, a division of Israel’s Ministry of Finance (MoF), is looking to accelerate the process of procuring licenses for blockchain and fintech companies in the country.

Israeli business news outlet Calcalist reported the development on Aug. 19. According to the report, the authority has launched dedicated industry teams, some of which specialize in blockchain companies.  

According to the report, the authority is hoping to foster local competition by licensing more fintech companies. Moshe Barkat, who was appointed as the supervisor for the department back in 2018, remarked:

“Business and technological innovation and the relationship with the industry are the basic principles that guide the Authority in its operations. The Authority is engaged in the licensing and regulation of fintech companies on a regular basis, including digital insurance companies, P2P platforms and credit providers, digital wallets, blockchain-based fintech…

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