Israel Exchange to Report Big Traders to Tax Authority

As reported, local exchange with over 50,000 clients has been convinced to report its bigger traders to the national tax authority
05 July 2018   1472

The Tel Aviv exchange Bits of Gold agreed to report large customers to the Israeli tax administration. The company will transfer to the tax department information about all traders whose account movements for the 12-month period are 50 thousand dollars or more. This is reported by

Bits of Gold agreed to this step after the Israeli tax department conducted an audit of operations in the office of the exchange in search of information about the largest customers.

The Israeli stock exchanges are already obliged to report large transactions to the Israeli Anti-Money Laundering and Terrorist Financing Authority, but the tax authorities were not able to obtain this data so simply because of laws protecting the privacy of citizens. Moreover, according to the publication of Calcalist, the Israeli tax administration has no legal rights to force companies to report their clients without their consent, which is also supported by several judicial precedents.

In addition, according to Israeli media, this agreement with Bits of Gold is just the beginning, as the Israeli tax department now plans to do so that other local companies and exchanges conclude similar agreements. This is not the first initiative of the Israeli tax administration in the crypto-currency area.

In May, it became known that the regional departments of the tax department sent letters to those who, they assumed, traded cryptocurrency, demanding to talk about all their activities on the crypto market, including the entire history of transactions and current savings.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1002

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.