Israel Greenlights Bits of Gold's Shekel-Pegged Stablecoin BILS

Israel's Capital Market, Insurance and Savings Authority has approved crypto firm Bits of Gold to issue BILS, a stablecoin tied to the Israeli shekel, Cointelegraph reported. The token has completed a two-year pilot on the Solana blockchain, with reserve assets kept in separate, independently held accounts within Israel. The launch is aligned with a broader effort led by the Israel Tax Authority and the Ministry of Finance to build a regulatory framework for the country's crypto sector.