The Chairman of the Israeli Securities Authority (ISA), Professor Shmuel Hauser, is preparing to relinquish his position in the beginning of 2018. The news comes as a surprise since his term was set to expire in May 2019.
The Israeli finance minister, Moshe Kahlon, attempted to convince Mr Hauser to remain in his position with the regulator but was not successful.
Commenting on his decision, Mr Hauser stated that he feels that he accomplished all the goals he set for himself. He is going to remain in his position until the beginning of 2018 to finish his ongoing projects.
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“These days we’re working on a few moves and I hope to accomplish them before I leave,” Hauser said in a statement.
One of the moves might be the publication of the findings of a special ISA committee that was established last August. Its purpose is to determine whether ICOs should be regulated as a form of security. The committee is expected to publish its findings in December 2017.
Late last week Finance Magnates reported that the Israeli Security Authority (ISA) is contemplating the future of the cryptocurrency industry and more specifically, ICOs. According to sources, a complete ban is one of the options that have been considered by the regulator.
Hauser will be remembered in the industry for his close cooperation with CySEC and the joint regulatory crackdown on binary options firms in Israel and abroad. The watchdogs took a hardline approach a little too late, forcing a number of brokerages to close their businesses after instilling harsh requirements on the product and the banning it outright in Israel.