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Israel Approves First Regulated Shekel Stablecoin BILS
Israel’s Capital Market Authority approved Bits of Gold to issue BILS, the country’s first regulated shekel-pegged stablecoin, as the stablecoin market has exceeded $300 billion. Bits of Gold said the token follows a two-year evaluation and pilot program. The launch has support from Solana, Fireblocks, and Ernst & Young. Bits of Gold said the issuance aims to reduce the dominance of dollar-pegged tokens in on-chain payments and protect digital sovereignty.