https://www.coindesk.com/israel-confirms-will-tax-bitcoin-property/Israel's government confirmed Monday that it would treat bitcoin and other cryptocurrencies as a kind of property for tax purposes.
The notice confirms past indications that the Tax Authority will regard cryptocurrencies as "a property, not a currency", making it therefore taxable as such. The Authority's position was first detailed in a draft circular issued in January of this year.
The circular explains that profits from cryptocurrencies will be subject to capital gains tax at rates between twenty percent and twenty-five percent, while individuals mining or trading cryptocurrencies in connection with businesses must pay a seventeen percent value-added tax (VAT) in addition to capital gains tax.
That's good. People will no longer see Bitcoin as an outlaw, but rather as a new interesting approach to money and also to make profit.
Regulations are necessary so the general public won't fear it. After all, we can't fear money. All money are subject to inflation, deflation.