Israeli regulators approve shekel-pegged stablecoin

Israel’s Capital Market, Insurance and Savings Authority has greenlit the launch of a shekel-pegged stablecoin by the virtual exchange Bits of Gold. In a Monday notice, the Israeli regulator said it had granted approval of the BILS stablecoin after a two-year pilot program on the Solana blockchain. The project was part of a broader effort by the Israel Tax Authority and the Finance Ministry to regulate the crypto industry.

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