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| January 17, 2019

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Israel, US to UN Agency: We’re Outta Here

January 2, 2019 |

The US and Israel officially quit the UN’s educational, scientific, and cultural agency at the stroke of midnight, the culmination of a process triggered more than a year ago amid concerns that the organization fosters anti-Israel bias, the AP reports. The withdrawal is mainly procedural yet serves a new blow…
Newser

CNN

Australia recognizes West Jerusalem as capital of Israel

December 16, 2018 |

Australian Prime Minister Scott Morrison announced Saturday that his government recognizes West Jerusalem as the capital of Israel.
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Bitmain Shuts Down Research and Development Center in Israel

December 10, 2018 |

The ongoing bear market has caused another cryptocurrency company to downsize its operations. Bitmain, the Beijing-headquartered bitcoin mining technology giant, has now begun shutting down its research and development center in Ra’anana, Israel.

Also Read: Former Israeli Prime Minister Calls Cryptocurrencies a ‘Ponzi Scheme’

Bitmaintech Israel Closes Down

Bitmain Shuts Down Research and Development Center in IsraelAccording to reports from Israel, Bitmain’s research and development center in the country will be shut down this week. A total of 23 employees are being laid off, and Gadi Glikberg, who headed the Israeli company and served as a VP at Bitmain, will also lose his position.

“The crypto market has been going through turmoil in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation,” Glikberg told his staff according to a report by the local Globes newspaper.

AI and Mining Talent

Bitmain Shuts Down Research and Development Center in IsraelBitmaintech Israel was the company’s first R&D center outside of China. It created the ‘Connect BTC’ mining pool and also developed Artificial Intelligence applications for the Chinese company.

“Over the past three years, we have built an amazing team with the highest performance capabilities in the field. Our development plans included a lot of work in the field of onboarding and making digital currencies more accessible to the general public, but unfortunately the market growth and user base forecasts have not materialized. Therefore, it was sadly decided to terminate the activity and stop the work of the 23 employees of the company in Israel,” Glikberg added in his announcement to the employees.

“We are gathering together a number of applications from technology companies that have already shown an interest in recruiting staff, and our human resources department will continue to assist as much as possible in the rapid integration of our people into the job market. It was a wonderful journey, and I am saddened it ends this way, but at least we got to experience it with you – programmers and professionals among the best in the Israeli market and even the world. ”

Do you expect more cryptocurrency businesses to shut down if the market does not recover soon? Share your thoughts in the comments section below.


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The post Bitmain Shuts Down Research and Development Center in Israel appeared first on Bitcoin News.

Bitcoin News

Israel Tax Authority Launches Offensive on Undisclosed Crypto Earnings

December 10, 2018 |

Israel Tax Authority Launches Offensive on Undisclosed Crypto Earnings

Local reports have asserted that the Israel Tax Authority has launched a renewed crackdown on unreported cryptocurrency earnings. The Israeli tax regulator has opened hundreds of tax accounts and sent letters of notice to Israeli citizens suspected of failing to disclose earnings derived from cryptocurrency-relate activities.

Also Read: $ 1 Million BTC Options Position Set to Expire on Dec. 28

Israel Tax Authority Targets Undisclosed Cryptocurrency Earnings

Israel Tax Authority Launches Offensive on Undisclosed Crypto EarningsThe Israel Tax Authority has launched an offensive designed to crack down on cryptocurrency earnings not reported by Israeli citizens, reportedly resulting in the opening of hundreds of tax accounts.

Citing an anonymous “Israeli official familiar with the matter,” local media outlet Calcalistech has reported that the Israel’s tax regulator has sent letters to citizens suspected of failing to report crypto income, as well as individuals who frequently travel overseas without possessing the required funds on paper and individuals who own more than three apartments.

Eran Yaakov, the head of the Israel Tax Authority, stated that the regulator will continue to actively target withheld cryptocurrency earnings moving forward.

Crackdown Expands on Previous Action Taken by Israel Tax Authority in May

Israel Tax Authority Launches Offensive on Undisclosed Crypto EarningsIn February, the Israel Tax Authority announced that it would mandate the taxation of cryptocurrency as an asset, resulting in the introduction of a 25 percent capital gains tax for private investors and a 47 percent marginal rate for businesses. Additionally, individuals mining or trading cryptocurrencies through a business were made liable for Israel’s 17 percent value-added tax.

Soon thereafter, the Israel Tax Authority sought to crack down on undisclosed cryptocurrency earnings and holdings, issuing letters to citizens suspected of failing to divulge pertinent cryptocurrency-related activities in May of this year.

At the time, news.Bitcoin.com reported on rumors that undercover agents of the Israeli tax regulator were monitoring local groups for the peer-to-peer trade of cryptocurrencies on major social media platforms including Facebook, Whatsapp, and Telegram.

What do you think of Israel’s tax regime for cryptocurrency earnings? Share your thoughts in the comments section below!


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The post Israel Tax Authority Launches Offensive on Undisclosed Crypto Earnings appeared first on Bitcoin News.

Bitcoin News

CNN

Israel begins operation to ‘expose and thwart’ Hezbollah tunnels

December 4, 2018 |

Israel has launched an operation along its northern border with Lebanon to “expose and thwart cross border tunnels” which it says have been dug by Hezbollah, the Israeli army said on Tuesday.
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CNN

Netanyahu warns early elections in Israel would be ‘irresponsible’

November 19, 2018 |

Israeli Prime Minister Benjamin Netanyahu has warned early elections would pose a risk to national security as he struggles to hold together his fraying coalition government.
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CNN

Israel heading for early elections after turbulent week for Netanyahu

November 16, 2018 |

Israel will pick a date for early elections on Sunday, a source close to a key minister told CNN, following a turbulent week for Prime Minister Benjamin Netanyahu that saw key government resignations and calls for an early vote.
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Israel Claims Iran Has ‘Secret Nuclear Warehouse’

September 28, 2018 |

Israeli Prime Minister Benjamin Netanyahu accused Iran on Thursday of keeping a “secret atomic warehouse” just outside its capital, despite the 2015 deal with world powers that was meant to keep it from obtaining nuclear weapons. Hours later, Iran dismissed the allegation. Holding up a poster-board map of an area…
Newser

Russia Blames Israel for Military Plane Shot Down Over Syria

September 18, 2018 |

Russia blamed Israel for the loss of a Russian reconnaissance plane shot down overnight by Syrian defense systems, boosting tensions between Tel Aviv and Moscow.
WSJ.com: What’s News Europe

Moscow Blames Israel After Missile Brings Down Plane

September 18, 2018 |

A Russian reconnaissance aircraft was brought down by a Syrian missile over the Mediterranean early Tuesday, killing all 15 people on board, the Russian defense ministry says. The ministry blames Israel for the crash, saying the plane was caught in the crossfire as four Israeli fighters attacked targets in northwestern…
Newser