Four members of the nationalist political party Yisrael Beiteinu of Israel proposed a new bill that aims to recognize digital currency as a currency and bring 25% capital gains tax.
One of the Law maker has said "It is possible to promote digital payment options due to the social distance that has been forced on us. When the economic future is unclear, we need to give growth engines a boost.”
The bill claims digital currency is also a currency if facts such as :
(1) its issuance is carried out via a distributed computer network in accordance with pre-established legal regulations of the system
(2) the initial issue of a currency unit; was not intended for payment to either party;
(3) the market value determined for the free market currency is not less than NIS 1 billion, according to a calculation method set by the Minister with the agreement of the Knesset Finance Committee, depending on the size of the market;
(4) is intended for general use and has not been issued for business.
are met.
