1. Israel is a Middle Eastern country that declared independence

    in 1948. Israel is a representative democracy with developed

    political institutions and socio-economic structures. Israel is

    often considered to be the most advanced country in Middle East

    in industrial, technological and economic development. The

    leading exports of Israel are software, machinery, chemicals,

    textiles and agriculture. Israel is a platform for various

    blockchain startups. As technology adoption in Israel is fast,

    a lot of the population is actively using cryptocurrencies to

    trade, invest in ICOs and purchase goods and services.

    Considering these aforementioned factors, Israel’s tax

    authority has issued statements on cryptocurrency regulations.

    Cryptocurrency is not considered to be under the legal

    definition of currency and is taxed like a taxable asset.

    Miners and traders of cryptocurrencies are treated as

    businesses and are a part of those taxing regulations.

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