(May 1, 2019) On April 17, 2019, Sheikh Khalifa bin Zayed Al-Nahyan, the governor of Abu Dhabi and the president of the United Arab Emirates (UAE) issued a new, unnumbered law that amends Law No. 19 of 2005 regulating the ownership of real-estate properties. The new amendment allows foreign individuals and foreign legal entities to […]
Topic: Foreign and international banking, Foreign investments, Free trade, Investment, Property, Real estate
(Jan. 7, 2019) On December 13, 2018, the European Court of Justice (ECJ) held that a “contribution” required to be paid by all German households to public broadcasters is compatible with European Union (EU) law, in particular with the rules on preferential state aid. The request for a preliminary ruling was submitted by a judge […]
Topic: Broadcasting, Competition, antitrust, and monopolies
(Dec. 28, 2018) Israel’s central bank, the Bank of Israel, announced on December 18, 2018, the establishment of an interagency team for regulatory coordination in the area of virtual assets. In the view of the Israeli financial system’s regulators, cooperation is necessary because of Israeli industrial developments based on distributed ledger technology (DLT) uses and […]
Topic: Commerce, Economics and public finance, Monetary policy
(Dec. 19, 2018) On December 3, 2018, new rules to prevent unjustified geo-blocking and other forms of discrimination based on nationality, place of residence, or place of establishment took effect in the European Union (EU). (Regulation (EU) 2018/302 of the European Parliament and of the Council of 28 February 2018 on Addressing Unjustified Geo-Blocking and […]
(Dec. 13, 2018) The Israel Tax Authority (ITA) has recently notified hundreds of Israelis it has identified as receiving income from cryptocurrency that they are required to report on their transactions in bitcoin and other cryptocurrency. The ITA does not consider cryptocurrency as currency but rather as assets subject to property tax at a rate […]
Topic: Capital gains tax, Commerce, Cryptocurrency, Tax avoidance, Taxation
(Nov. 21, 2018) On August 31, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) passed the PRC Electronic Commerce Law. The Law will take effect on January 1, 2019. (Zhonghua Renmin Gongheguo Dianzi Shangwu Fa [PRC Electronic Commerce Law] (promulgated Aug. 31, 2018, effective […]
Topic: Commerce, Data protection, Intellectual property, Taxation
(Sept. 28, 2018) On September 13, 2018, the European Court of Justice (ECJ) held that selling SIM cards with preinstalled and preloaded fee-incurring services constitutes an aggressive unfair commercial practice. It stated that consumers must be informed in advance of such services so that they can make a free choice. The ECJ concluded that such […]
Topic: Cell phones, Commerce, Competition, antitrust, and monopolies, Consumer protection
(Sept. 25, 2018) On July 18, 2018, the Knesset (Israel’s Parliament) approved the Medical Tourism Law, 5778-2018 (SEFER HAHUKIM [SH] 5778 No. 2750 p. 963, Ministry of Justice website (in Hebrew; click on issue No. 2750). The Law regulates the medical tourism industry in Israel. Among other things, it introduces registration requirements for medical tourism […]
Topic: Commerce, Health, Medical personnel, Patients' rights, Tourism
(Sept. 20, 2018) The Act on Development of Specified Complex Tourist Facilities Areas was enacted in Japan in July 2017. (Integrated Resort Development Act, Act No. 80 of 2018, KANPOU [OFFICIAL GAZETTE] Extra ed. No. 166 (July 27, 2018), at 18, National Printing Bureau website (in Japanese).) This Act corresponds to the Act on Promotion […]
Topic: Crime and law enforcement, Gambling, Tourism
(Sept. 20, 2018) On August 28, 2018, the government of Liechtenstein adopted a consultation report on a proposed Blockchain Act. The goal of the Blockchain Act is to take advantage of the potential of blockchain technology, create legal certainty for market participants, protect users of blockchain technology from potential abuse, and reduce potential reputation risks […]
Topic: Banks and financial institutions, Consumer protection, Finance and financial sector, Financial services, Fraud and financial crimes, Internet, Money laundering, Product development and innovation, Property, Securities
