The Israeli government is considering preparing a national currency policy after Russia and Dubai. According to sources close to the Ministry of Finance, the black market in the country is about 22 percent of the country's total domestic production. The digital currency unit registered with the government will allow for less black market operations. Also, the government considers a law that will significantly reduce the amount of physical cash in the economy.
At the same time, the process of creating digital shells (shaped currency) has begun. The Government has adopted the "Economic Regulation Project," which proves that this project is intended to develop the Israeli Bank's digital form. The addition of physical cash laws is seen as a result of the Knesset's failure to pass the same bill two years ago. On the other hand, the prime minister's recent comments show that there is pressure to adopt a digital currency.
Cooperation with the Israeli government
Colo, a central Wall Street wallet in the country, has become part of a series of talks with the government on digital currency acquisition. Head of Blockchain Colu Mark Semarang said:
"The Israeli regulators have been looking at digital currency units for a while, and we are part of it, and if this is true, Colu will be happy to believe that it is a future of digital currency units."