The Bank of Israel has released regulations for stablecoins, requiring a reserve ratio of over 100%

2023-02-22 22:02:55

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ChainCatcher news, the Bank of Israel today released regulatory principles for stablecoins, outlining the central bank's recommendations regarding the regulation of cryptocurrencies pegged to the value of the dollar and other assets.

The document states that the goal of the proposed regulations is to allow the use of stablecoins in the country while managing the inherent risks associated with their use. The central bank suggests requiring stablecoin issuers to maintain reserves that match the amount of circulating cryptocurrencies.

It is reported that the proposed rules will be open for public consultation until March 15, after which the central bank will make necessary amendments and recommend legislation to the legislative body. (Source link)

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Israel stablecoin

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