Paying Salaries in Bitcoin to be considered in Israel

The solution to encourage talented specialists of the technological firms with Bitcoin is presently being mulled by the authorities of Israel
14 June 2018   836

Israel companies are generally known by high salaries, conductive working conditions and regular promotions. But all these things are not enough: nowadays the officials of the state are thinking about the encouraging perspective specialists with salaries in Bitcoin. 

The Example has been given by the company Spot.IM. The client asked the officials about a permission for paying its employees` wages in bitcoin. Such cryptocurrencies as Bitcoin are hardly regulated by the security and taxation systems in Israel. In order to overcome all the possible difficulties, Spot.IM is aimed to solve these problems by setting the airbag arrangement with the state authorities. Presently the negotiations with the Israel Securities Authorities are kept. First of all, the exchange rate is being discussed, as it is necessary to consider the volatility of Bitcoin exchange rate.

As soon as all the agreements with the agency would be reached, this issue can be transferred into the Ministry of Labour coordination. The ministers of the structure are  already concerned with the matter and are to be involved in making the decision in near future. Spot.IM is going to take on the costs of conversion. 

The specialists of the technological company Spot.IM are confident about the future of cryptocurrencies, but actually the firm is not yet involved with them. Among the customers of Spot.IM are such news services as Time Magazine, NBC, Huffington Post, Engadget, Fox News and others. Spot.IM is responsible for the social interactions and commentary on these resources. Since the establishing in 2012, the company managed to raise $38 million. In November of 2017 the firm gained $25 million, partially these earnings are owned by the Russian billionaire Roman Abramovich.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   105

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.