Client Update: In a landmark ruling, the Israeli Tax Court classified cryptocurrency as an “asset” and rejected the taxpayer classification of Bitcoin as a currency or a security.

Client Update: In a landmark ruling, the Israeli Tax Court classified cryptocurrency as an “asset” and rejected the taxpayer classification of Bitcoin as a currency or a security.

Adv. Daniel Paserman (CPA) TEP, Head of Tax, and Dr. Yehonatan Shiman, Associate, review the precedential decision of the District Court which grappled with an issue of first impression regarding the appropriate tax treatment for cryptocurrency as a digital asset, in the matter of Noam Koppel v. Rehovot Tax Assessor.