Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an anti-money laundering order specifically addressing cryptocurrencies, which came into effect in November 2021. The Supervisor of Banks is continuing this trend and has recently taken an initial measure to regulate the use of virtual currencies (a new section in Proper Conduct of Banking Business Directive 411).
