As a hotbed for technological innovations in the Middle East, Israel is often the subject of the news on the cryptocurrency trends in that region of the world. While its national efforts may put it at the forefront of the technological charge, Israel is still looking for the ways to align the interest of the crypto users and the government.
One of the key fields that may be in desperate need of a clean-up is the regulation and taxation of crypto trading. While the government is looking for the ways to accommodate the interests of investors while avoiding over-taxation, Israel is often described as the home to numerous tax evaders who resort to using cryptos to avoid their obligations. This has elicited a strong reaction from the Israeli Tax Authority (ITA) which recently launched a nationwide crackdown.