 The chair of the ISA, Professor Shmuel Hauser, also expressed his shame and disgust at the frauds and says they are working on it.In 2016, Binary options were prohibited from being offered locally to Israelis, and the ISA has submitted a draft law seeking a blanket binary options ban to offerings to all investors, the legislation is required as the ISA doesn't currently have jurisdiction over offerings outside of Israel.In October 2017, the law was passed by the Knesset to forbid offering of binary options trading services to foreign customers.