Israeli regulator says that cryptocurrency may be the next big scam

According to, two weeks after the passage of a law that outlawed Israel’s entire binary options industry, Israel Securities Authority chairman Shmuel Hauser said that he was “very troubled” by the possibility that binary options fraudsters are now entering the field of cryptocurrencies, where they may be seeking to perpetrate the next big scam.

Shmuel Hauser said:

We’re very concerned about initial coin offerings and cryptocurrencies.

Hauser said he plans to enforce the law diligently. As soon as it goes into effect in January, anyone caught offering binary options will face arrest and prosecution, he vowed.

He stated:

If, going forward, someone tries to offer binary options, we will address it. But if someone was fraudulently selling binary options in the past, that is not under our jurisdiction; it is the responsibility of the police.

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Written by Brad Chillum

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