Israel's parliament, the Knesset has finally passed the law banning the binary options industry. By a vote of 53-0, the 120-member legislature forbade the industry to operate from within the country and offer its products abroad. This, in essence, means the brokerages will have to shut down their call centers, which solicit new clients abroad.

The final version of the law that was approved by the MPs, has been trimmed in order to include just the binary options brokers, leaving a loophole allowing them to change their business model and continue operating.

It was high time to shut this thriving industry down..Binary options were under the control of the stock brokers and banks in Israel for years, however this mass fraud phenomenon arose when the government passed more and more laws to reduce the restrictions on such speculative investments.

Thank you for sharing this. Apparently, there some is strong tendency of more and more regulators banning the binary options. Will be interesting to see how this whole thing will unfold. If I remember correctly, recently Canada Also banned these instruments.

Yep, more and more regulatory authorities become to realize that binary options trading should be shut down. I am also away from the point that binary options offering will disappear, but will be offered just from low class brokerage companies

Certainly This binary product is more a gaming tool than a trading toll and fortunately the regulators are coming to this understanding .It's highly possible that those companies which continue promoting binary options as a trading or investing tool to lose some of their profits trough fines

I also believe that binary options will survive in some form or another. It is just too big of a business for some people to just let it go.