The Israel Securities Authority says it is moving to ban trading in cryptocurrency-based companies on the Tel Aviv market until transactions involving digital coins are legally regulated.
The head of the authority, Shmuel Hauser, says that the stock market regulator would discuss the proposal at a meeting next week.
“So long there is no regulatory framework, we will make it that companies whose trade is primarily based on digital coins won’t be able to trade on the (Tel Aviv) stock market,” he says.
In addition, “the activity of a company that already exists and most of its activity is through bitcoin will be suspended,” he said.
“We’ll do that until we find an appropriate regulatory framework for this trade,” Hauser says. “This has to be done because the public is not protected as far as digital currency trade goes.”
Bitcoin prices had climbed in recent weeks before suffering a dramatic plunge on Friday, dropping 20 percent at one point below the $13,000 mark. By Tuesday, the currency had regained some of its value and crossed $15,000.
— AFP
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