Bill banning binary options passes 1st Knesset hurdle

The Knesset plenary unanimously approves a proposed law to ban Israel’s widely fraudulent binary options industry.

Unsurprisingly, all 31 Knesset members in the plenary this afternoon voted in favor of the law.

The new law is being praised by MKs from across the political spectrum.

Deputy Finance Minister Yitzhak Cohen from the ultra-Orthodox Shas party says the legislation will “save many families,” while opposition lawmaker Dov Khenin from the Joint Arab List welcomes the ban of “toxic and dangerous” industry.

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