The Israel Securities Authority (ISA) has recommended changes to the existing laws to include cryptocurrencies to give legal status to digital assets, it has been reported.
The changes in the law will help recognise digital assets as "financial instruments". These assets would be considered virtual representations of value and may be transferred through a distributed ledger.
ISA said that it wants to bring digital assets under the purview of securities laws to safeguard investors . It said it would make efforts to simplify the laws for people to understand and implement.
Meanwhile, the regulator has sought feedback from the public by February 12 on the proposed changes.
The changes would come into force if accepted after a six-month transition period. The authority has stressed adaptability in the laws to accommodate changes in technology .
VOSMOS Unveils Metaverse & Virtual Experiences Technology
Singapore-headquartered tech start-up VOSMOS has unveiled its metaverse and virtual experiences technology at CES 2023, being held in Las Vegas from January 5-8, 2023. VOSMOS is a part of the Kestone Integrated Marketing Services and promoted by CL Educate, the parent company of Career Launcher. VOSMOS said it aims to build virtual worlds that are simplified, connected, and immersive.
In a press statement, VOSMOS said it has 3 products under the brand: Metaverse , virtual events, and customized technology solutions.
Piyush Gupta, CEO of VOSMOS, says, “Our products will give businesses the opportunity to connect with their target audience globally at a cost that cannot be imagined in the physical world. Our virtual events platform today has become a must-have in the marketing kit for all leading marketers. It gives businesses the flexibility to design intelligent, beautiful, and agile events for anyone anywhere. The metaverse is gaining momentum, with brands already in the virtual cosmos of VOSMOS. "
