Israel’s Central Bank Proposes Rules for Stablecoins
The Bank of Israel on Wednesday published principles for regulating stablecoin activity in the country, which lays out the central bank’s recommendations for supervising crypto linked to the value of other assets like the U.S. dollar.
The document follows the publication of guidelines for digital asset regulation from the country’s Ministry of Finance in November. The goal of the central bank’s proposed regulations is to allow stablecoin use in the country “while managing the risk inherent in using them, and adjusting the consumer protections and prudential requirements,” the document said.
