Israel Finally Passes Law To Totally Ban Binary Options Sales Abroad
Israeli Knesset is shutting down the Israeli led binary options industry
Israel’s parliament has now officially banned Israeli enterprises from selling binary options to clients overseas.
The difference between previous bans and the current new laws is that the new ban also targets binary options platform providers. This new law bans them from offering platform support services anywhere in the world. Israeli developer companies like SpotOption, TechFinancials will now be unable to operate any part of their enterprises from within Israel – without breaking the law.
Shmuel Hauser, Chairman of the ISA, has stated again and again the damage of binary options to Israel’s international reputation and said “The law will enable the securities authority to act in an unprecedented manner against those entities operating from Israel vis-à-vis clients abroad, by imposing civilian and criminal sanctions including imprisonment.”