It has been reported that the Israel Securities Authority (ISA) has recommended changes to existing laws to include cryptocurrencies to give legal status to digital assets.

The changes in the law will help to recognize digital assets as “financial instruments”. These assets would be considered virtual representations of value and can be transferred via a distributed ledger.

ISA said it wants to bring digital assets under the scope of securities laws to safeguard investors. He said he would make efforts to simplify the laws so that people understand and implement them.

Meanwhile, the regulator has sought public comment by February 12 on the proposed changes.

The changes would take effect if accepted after a six-month transition period. The…