The Israeli government has adopted a legislative memorandum (draft) introducing a limit on cash transactions in business, as well as related penalties. The proposed draft must be approved by the Knesset (national legislature of Israel) before being enacted. According to the draft, cash and check payments to and from a business will be limited to ILS 10,000, while business related payments between individuals and for professional service providers (lawyers, accountants, etc.) will be limited to ILS 50,000. For larger amounts, payments will need to be done through debit cards or digital wallets to be set up by banks. In addition,...