Israel will control bitcoins as "properties"

The government of Israel will monitor, both bitcoins and other types of cryptocurrency, as "properties," according to a statement released by the entity on Monday.

The news then confirms the previous statements made by the tax authorities of the Hebrew country during the month of January, in which they stated that cryptocurrencies "are property and not money", motivating them to control them as such.

The press release specifies that the earnings from cryptocurrencies will be subject to the capital gains tax (between 20 and 25%), while the mined or commercial ones must pay 17% to the added value (VAT), in addition to the tax previously mentioned. This last aspect is related to a trend observed in recent years, in which cryptocurrencies have been revalued.

The announcement complements the statements of the tax authorities, who had raised possible ways to control ICO, such as establishing a minimum income threshold for the sale of tokens, generating a new tax.