Israel’s Money Laundering and Terror Financing Prohibition Authority (IMPA) has announced that new, tightened regulations will now apply to cryptoassets, fintechs, and various other financial products. The measures are designed to introduce more regulatory clarity and coherent standards, according to senior government representatives. They are also in line with the latest recommendations by the European Union’s law enforcement agency Europol.
With the new regulations, Israel is requiring local fintechs and virtual currency service providers (VASPs) to secure operating licenses, Globes reported, adding that applications by a number of crypto businesses are currently under review,
Shlomit Wegman, Director of the IMPA, said that the new rules
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