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Haaretz is reporting Monday that the chairman of the Israeli Securities Authority says he will propose regulations that ban business with main business in digital currencies from the Tel Aviv Stock Exchange. Whether this comes to fruition or not is anyone's guess.
The trading price of Bitcoin has become especially fluid in recent months with a sharp decline witnessed in the past two weeks alone. Other crypto-currencies have cropped up over the past year as well, resulting in a dilution of the market value.
Shmuel Hauser, the chairman of the Israel Securities Authority (ISA), stated that he would bring the proposal to the ISA board next week. Should the proposal be approved, it would be subject to a public hearing as well as stock exchange bylaws amendments.
“If we have a company that their main business is digital currencies we would not allow it. If already listed, its trading will be suspended,” Hauser said.
Shares in Israeli bitcoin-based firms plunged two weeks ago following the initial remarks by Hauser.
- Aaron Goldstein, Gambling911.com
