The Israeli Bitcoin Association (IBA) recently announced the results of elections for its board of directors and audit committee.

The newly formed board is the IBA’s first to be formally elected, with previous boards serving on an interim basis. 113 (78%) of an eligible 145 IBA members voted. More details on the results are available on its website.

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The Association had its first General Assembly in December, where its objectives were reviewed and candidates for the board presented. The proceedings can be viewed here.

Israel is home to a vibrant and growing Bitcoin industry, a partial result of its cutting edge technology sector and a relatively stiff banking system. Among the IBA’s objectives is for authorities to adopt favorable regulations. Meni Rosenfeld, Chairman of the IBA, told DC Magnates:

“We are having an ongoing dialogue with government officials about the regulatory status of Bitcoin. We are working to inform them of the advantages of having Bitcoin-friendly regulation, and hoping these efforts will soon bear fruit.”

Professor Eugene Kandel, an economic advisor to Prime Minister Binyamin Netanyahu and Head of Israel’s National Economic Council, said in a recent talk that Israel needs to take a chance on bitcoins.

In addition to periodic meetings of the board, the IBA is also planning local conferences to be held in April and October.