Bitcoin has been receiving a ton of regulatory scrutiny over the past few months. Every country in the world is seemingly poised to introduce some form of regulation. Creating a legal definition for a form of money that has never existed before is pretty difficult, although it remains to be seen how countries will tackle this issue moving forward.
Over in Israel, the decision was made that Bitcoin used only for consumption cannot be labelled a security. This verdict not only applies to Bitcoin, as it seems the Israel Securities Authority applies the same logic to ICO tokens. That in itself is a pretty intriguing development, as there have been no real use cases for ICO tokens to date. Whether or not this decision will backfire on the agency remains to be seen.