The State Comptroller has found that the Tax Authority in Israel has missed out on collecting NIS 3 billion in taxes from the cryptocurrency market. The report highlights that the Tax Authority has not taken the necessary steps to improve its ability to collect taxes from cryptocurrency transactions. Only 0.25% of transactions are reported to the Tax Authority, despite there being a potential of about 200,000 cryptocurrency wallet owners. The Tax Authority has issued only three publications on taxation in the cryptocurrency market since 2018 and has not updated its rules to reflect market developments.