A memorandum of law was presented to the Knesset State Control Committee Tuesday morning, that would allow the police and the Israel Securities Authority to enforce a law the committee is considering to ban the sale of binary options from Israel to foreign customers abroad. Binary options are being fought as a gamble or a scam.
Securities Authority Chairman Shmuel Hauser said that "the proposed law will allow us to address the phenomenon of marketing binary options not only to Israeli citizens but also to foreign citizens abroad. We believe that there are dozens of companies in the country employing thousands of workers [in the field]. We believe that the bill solve most of the problem."