Latest Updates

January 25, 2018

Israeli Tax Proposals for Blockchain, First Steps to Approval

Adv. Harel Perlmutter, the head of our Tax Department, was interviewed by Bloomberg BNA following the release of the Israel Tax Authority's new draft plan for taxing ICOs.

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January 17, 2018

Barnea & ACC Seminar – Blockchain, Bitcoin, and ICOs

We hosted, together with the Association of Corporate Counsel, a seminar on blockchain and digital currencies. We discussed new regulatory challenges, with Micky Barnea addressing blockchain and smart contracts. Tal Cohen, Compass Blockchain Solutions's CEO, gave a special introductory lecture on bitcoin and digital currencies.

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December 27, 2017

Everything You Need to Know about ICOs

Barnea hosted an ICOs and digital currencies event featuring a lecture on regulation opportunities and challenges. Harel Perlmutter also discussed the taxation of cryptographic coins and the Israel Tax Authority's position.

December 26, 2017

Fierce Battle over Banning Binary Options Reaches High Court of Justice

Following a bill promoted by the Israel Securities Authority, and passed by the Knesset, outlawing binary options trading by Israeli companies, Yukom Communications LTD and its controlling shareholder, Yossi Herzog, filed a petition to the High Court of Justice. Overseeing the filing of the petition were Barnea attorneys Zohar Lande, Eyal Nachshon, and Moran Bickel.

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December 26, 2017

Micky Barnea Interviewed by Globes on Israel's Capital Market

Adv. Micky Barnea, our firm's managing partner, was interviewed by Globes on the major events that have taken place in Israel's capital market in the past year: the re-emergence of initial public offerings on the Tel Aviv Stock Exchange, the Bezeq affair, and ICOs.

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December 21, 2017

Article: Is the Israeli Regulators’ Approach to ICOs Ill-Advised?

An article in Financial Magnates discusses the Israel Securities Authority's approach to initial coin offerings (ICO) and cryptocurrencies and how this approach compares to other jurisdictions.

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December 13, 2017

Israel Securities Authority Blows Up the Bitcoin Bubble

Our firm gave several media interviews following the Israel Securities Authority Chairman's remarks that companies whose values are based on bitcoin will not be included in the Tel Aviv Stock Exchange's (TASE) indices until a suitable regulatory framework is established. We noted that it is important to distinguish between the inclusion of companies engaged in trading and investing in virtual currencies on TASE's indices and the possibility that such companies will actually be traded on TASE.

Financial radio program (starting min' 05:15)

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December 13, 2017

Lawsuit Filed against Founder of Digital CoinDash

Our firm represented Guy Aharonovski in a lawsuit against his former partner in CoinDash, a platform for managing investments in cryptographic currencies. Aharonovski is claiming his former partner disqualified him from his share in the company, founded Queen-Dash behind his back, and issued tokens called CDT that enabled the use of the platform provided by the company.

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November 30, 2017

Glossary for Beginners in the World of Digital Currency

Do you keep hearing people talk about blockchain, bitcoins, and ICOs with no idea what they mean? Here’s a short glossary to help you understand what the fuss is all about.

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November 20, 2017

Precedent Set regarding Class Actions against Dual-Listed Companies in Israel

In a precedent-setting ruling handed down recently in the Tel Aviv District Court a motion to certify an action as a class action, which was filed against Tower Semiconductor Ltd. and its officers, was dismissed in limine based on the rationale that US law applies to the company in relation to the matter of liability, since Tower is also listed for trading in the United States.

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November 16, 2017

Conference: Internal Investigations as an Essential Tool in Corporate Governance

We took part in a conference hosted by the Institute of Internal Auditors, where we addressed how internal investigations function as an essential tool in corporate governance.

November 14, 2017

Seminar with Israel Hedge Funds Association

Barnea hosted a seminar with the Israel Hedge Funds Association addressing the regulatory challenges when establishing and managing a hedge fund. Also as part of the seminar, a partner from Harneys, discussed establishing offshore hedge funds in the Cayman Islands and the British Virgin Islands.

November 13, 2017

Seminar with Tel Aviv Stock Exchange and Israel Builders Association

Barnea hosted, together with the Tel Aviv Stock Exchange and the Israel Builders Association, a seminar for real estate and infrastructure companies exploring a potential IPO. We discussed IPO from the perspective of a regulator.

November 9, 2017

Interview on London et Kirshenbaum about Bezeq Investigation

We were interviewed on the TV program London et Kirshenbaum about the investigation against Bezeq, where we noted that the Israel Securities Authority has invested considerable efforts in completing the investigation quickly because of the case's broad public implications (starting from 05:40).

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November 8, 2017

Offering Services of Securities Trading Systems

Recently a new Amendment to the Securities Law, concerning the restructuring of the stock exchange, came into effect.

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October 24, 2017

Israel Securities Authority Defeated in Proceeding against Portfolio Manager

The Administrative Enforcement Committee rejected an administrative claim filed by the Israel Securities Authority against portfolio manager Ran Amitai for using insider information on a deal with the biotechnology company Compugen. Ran Amitai and Cramim Capital Markets were represented by our firm in the proceedings.

Article from The Marker

Article from Calcalist

September 24, 2017

Israeli Binary Options CEO Arrested in US on Suspicion of Committing Electronic Fraud

The Israeli CEO of a binary options company has been arrested by federal investigators in the United States on suspicion of committing electronic fraud. Dr. Zvi Gabbay, partner and head of our firm's Capital Markets Department, is representing the company in this matter. In an interview with TheMarker on the subject, he noted this is a relatively early stage in the legal process and that an indictment has not yet been filed.

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September 19, 2017

ICO Whitepaper

ICO is the abbreviation of Initial Coin Offering, a term inspired by the capital market term IPO (Initial Public Offering). This is when a company recruits debt or capital by publishing a prospectus offering of its securities to the public for the first time. A prospectus is a profound legal and accounting document that furnishes information about the company, its management, its businesses, and its financial position. Once a company’s securities are held by the public, it becomes a public company.

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August 29, 2017

TheMarker Op-Ed: Regulation of Digital Coins

An op-ed in The Marker on the regulation of digital currencies asserts that there will be no choice but to build a unique regulatory model that matches the characteristics of these new financial instruments.

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August 29, 2017

Dr. Zvi Gabbay Interviewed by Walla! about Investigation into Former Bank Leumi Officials

Dr. Zvi Gabbay, head of the Capital Markets Department at our firm, was interviewed by Walla! about a criminal investigation opened against former Bank Leumi officials in a US tax fraud scandal. Zvi believes American investigators will work closely with Israeli investigators on this case, via the international legal aid apparatus at the Justice Ministry.

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