The Capital Market Authority granted a permanent crypto license to Horizon from Altshuler Shaham. This is the first license granted by Amit Gal, the incoming inspector, and the third license for a company in the crypto field. Gal, Moshe Barkat’s replacement, is known as one who believes that crypto is here to stay. However, it is hard not to notice that the license comes precisely when the hype surrounding crypto is undergoing a shake-up to say the least.
The recent collapse of the FTX exchange, and the arrest of Sam Bankman-Fried this week, did not contribute to the name created for the field, but Horizon makes it clear that this collapse is an example of the activity of an unsupervised exchange. Moshe Barkat, the previous inspector was in favor of crypto, but not now. According to him, cryptocurrencies are not an asset for pension portfolios. The Securities Authority, on the other hand, would like to regulate the field since currently their ability to control the field is quite limited as a regulator.
Horizon, which was founded at the end of 2017 as part of the Altshuler Shaham investment house, is among the only companies in Israel that operates in the field of digital assets in cooperation with the banking system. The company offers the purchase of a variety of coins, service in tax aspects and even third-party custody services for those who are looking for a solution for holding the coins not privately.
Ilan Shterek, CEO of Horizon from Altshuler Shachem, said that “the permanent license will allow continued activity with the banking system and with an investor audience in Israel who will benefit from a wide range of services under a regulated body. As a leading company in the field of blockchain and crypto, we will continue to bring innovation to the investor audience in Israel by offering new products and services .”