The Israeli crypto tax bill has passed its preliminary approval, expected to exempt foreigners from capital gains tax on digital assets

ChainCatcher news, the Israeli parliament (i.e., Knesset) has passed a bill in its preliminary review that extends certain tax benefits applicable to Israeli high-tech companies to the country's cryptocurrency industry.

According to informed sources, if the bill becomes law, it will exempt foreign residents from capital gains tax when selling digital currencies and reduce the tax rate on employees' cryptocurrency options (similar to stock options) from 50% to about 25%.

It is reported that Israel has been working to integrate cryptocurrency into the local economy by regulating the industry, with the government proposing guidelines for digital asset handling and stablecoin requirements. The country's securities regulator will be responsible for overseeing crypto assets. (Source link)