Leumi, Israel’s largest bank, is reportedly set to become the first Israeli bank to offer crypto trading for their customers. The bank has been operating since 1902.
No release date announced yet
The cryptos Bitcoin (BTC) and Ethereum (ETH) will reportedly be offered initially, but this offer will be expanded later. Customers wishing to purchase these cryptos will be faced with a minimum purchase or sale value of 50 shekels, or just over $14.
Due to regulatory approval, a launch date has not yet been set. However, the company did say the following:
“Tax will be collected, according to current guidelines from the Israeli tax authorities, so that customers do not have to manage taxes.”
Do you want to trade Bitcoin on one of the largest and most reliable exchanges in the world? †
Pepper platform
The cryptocurrencies will be offered through the Pepper platform. This is a banking platform that allows users to trade cryptocurrencies at a competitive price.
This platform will automatically collect tax on the crypto transactions, which is in accordance with the requirements of the Israeli tax authorities. This means that customers do not have to enter the tax issues themselves afterwards. Although the platform is expected to come online soon after approval, it is currently unknown when that will happen.
