The Israeli government on Sunday adopted a draft law banning the country’s firms from selling binary options to clients abroad, after widespread complaints of fraud.
The move comes a year after authorities in Israel banned the sale of binary options to Israeli citizens.
The draft law is to be submitted to the Knesset, or parliament, where it must pass three readings.
The bill also bans the sale by Israeli firms of financial products if the trader carrying out the transaction is not licenced in the country where the client lives.
The chairman of the Israel Securities Authority, Shmuel Hauser, said the sale of binary options was causing huge economic harm to people around the world, and “encouraging anti-Semitism”.

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