Bits of Gold is the first company in Israel to issue a license providing currency services for trading in virtual currencies.

The Company takes an active part in promoting regulation in Israel in order to regulate the field of virtual currencies through various financial regulators, including the Capital Market, Insurance and Savings Authority in the Ministry of Finance; The Banking Supervision Department of the Bank of Israel; The Prohibition of Money Laundering and Terrorism Financing Authority; The Israel Securities Authority; The Tax Authority and others. In July 2018 it was reported that the company had cooperated with the Tax Authority in order to transfer information about the investors of Crypto in large sums.

The Bank's compliance unit is headed by the former compliance officer of Bank of Jerusalem. The Company has a policy document for the prohibition of money laundering that is subject to Israeli law, according to which it operates according to the strictest standards for identifying its customers. The Company operates automated systems for verifying identity cards and checking against black lists, and has independently developed a system of reports to the Israel Money Laundering Prohibition Authority, which is adapted to the ISA's directives.


 Digital currencies regulation in Israel - timeline