Initial coin offerings seem to be a major topic in the crypto news these days and to confirm this, according to industry reports, startups in Israel raised more than $600 million in funding from initial coin offerings only in the first three quarters of 2018.
A few cryptoanalysts and researches from the One Alpha research firm made a survey from different blockchain projects around the world and ICOs from the past year in order to provide an overall view of the status of the ICO ecosystem particularly focusing on Israel.
According to the surveys, there are more than 140 active blockchain-related businesses in Israel which with other forms of investment combined, received more than $1.2 billion worth of investments which shows that 88 percent of the funds are ICO-related.
These $600 million represent an increase since last year and a clear sign of the growth in ICO this year. Yaniv Feldman, CEO of One Alpha said:
“Israelis are less than 0.1 percent of the global population while making 3 to 5 percent of global ICO fundraising amount is definitely something that shows that Israel is one of the most important in terms of blockchain innovation.’’
This year is a great year for the Israeli regulators that clarified their positions on crypto-related or blockchain-related matters. For instance, in March this year, the Israel Securities Authority asked to differentiate the utility tokens from crypto tokens and also back in January made a draft plan for ICOs taxation.
Feldman noted that Israel doesn’t want to become overly crypto-friendly but rather focus on regulating the industry in a way that will uplift the local businesses.
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